https://www.taxtmi.com/caselaws?id=280694 The Tribunal consistently held that the expenditure on purchase and consumption of tools and instruments should be treated as revenue expenditure, based on previous decisions and the nature of the items involved. The revenue's appeal for AY 2007-08 was dismissed as the Tribunal confirmed the CIT(A)'s decision to treat the items as revenue expenditure. Similarly, in the assessee's appeals for AY 2008-09 and 2009-10, the Tribunal ruled in favor of the assessee, deleting the additions made by the AO and considering the expenditure on tools and instruments as revenue expenditure. en-us Tue, 27 Nov 2012 00:00:00 +0530 Fri, 17 May 2019 12:01:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280694 The Tribunal consistently held that the expenditure on purchase and consumption of tools and instruments should be treated as revenue expenditure, based on previous decisions and the nature of the items involved. The revenue's appeal for AY 2007-08 was dismissed as the Tribunal confirmed the CIT(A)'s decision to treat the items as revenue expenditure. Similarly, in the assessee's appeals for AY 2008-09 and 2009-10, the Tribunal ruled in favor of the assessee, deleting the additions made by the AO and considering the expenditure on tools and instruments as revenue expenditure. Case-Laws Income Tax Tue, 27 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280694