https://www.taxtmi.com/caselaws?id=382979 The court affirmed that the expenditures on the replacement of various parts were correctly treated as revenue expenditures. The replacement did not create new assets or enhance capacity but merely maintained the efficiency of existing machinery. The High Court dismissed the tax appeal, upholding the decisions of the CIT(A) and the tribunal. The revenue's appeal was dismissed, confirming that the expenditures were rightly categorized as revenue expenditures. en-us Mon, 08 Jul 2019 00:00:00 +0530 Fri, 12 Jul 2019 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382979 The court affirmed that the expenditures on the replacement of various parts were correctly treated as revenue expenditures. The replacement did not create new assets or enhance capacity but merely maintained the efficiency of existing machinery. The High Court dismissed the tax appeal, upholding the decisions of the CIT(A) and the tribunal. The revenue's appeal was dismissed, confirming that the expenditures were rightly categorized as revenue expenditures. Case-Laws Income Tax Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382979