https://www.taxtmi.com/caselaws?id=353715 The Appellate Tribunal ITAT Kolkata held that the replacement of steel rolls by the assessee should be treated as revenue expenditure for the Assessment Year 2010-11. The Tribunal concluded that the expenditure did not result in enduring benefits and was part of operational expenses in the ordinary course of business. Relying on legal precedents, the Tribunal allowed the assessee's appeal on this specific issue while dismissing other general grounds raised. The decision was in line with a similar case decided by the Chandigarh Tribunal and approved by the Punjab & Haryana High Court. en-us Fri, 05 Jan 2018 00:00:00 +0530 Wed, 10 Jan 2018 09:01:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353715 The Appellate Tribunal ITAT Kolkata held that the replacement of steel rolls by the assessee should be treated as revenue expenditure for the Assessment Year 2010-11. The Tribunal concluded that the expenditure did not result in enduring benefits and was part of operational expenses in the ordinary course of business. Relying on legal precedents, the Tribunal allowed the assessee's appeal on this specific issue while dismissing other general grounds raised. The decision was in line with a similar case decided by the Chandigarh Tribunal and approved by the Punjab & Haryana High Court. Case-Laws Income Tax Fri, 05 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353715