https://www.taxtmi.com/caselaws?id=13512 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decisions on the treatment of replacement expenditure of machinery as revenue, excluding excise duty and sales tax from turnover for deduction under section 80HHC, and determining that the concept of block of assets was not applicable in the case. The court emphasized adherence to statutory provisions over accounting practices and cited precedents to support its rulings, concluding that no substantial legal questions arose for consideration. en-us Mon, 22 Jan 2007 00:00:00 +0530 Fri, 29 May 2009 12:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13512 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decisions on the treatment of replacement expenditure of machinery as revenue, excluding excise duty and sales tax from turnover for deduction under section 80HHC, and determining that the concept of block of assets was not applicable in the case. The court emphasized adherence to statutory provisions over accounting practices and cited precedents to support its rulings, concluding that no substantial legal questions arose for consideration. Case-Laws Income Tax Mon, 22 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13512