https://www.taxtmi.com/caselaws?id=382981 The High Court affirmed the decision of the ITAT to treat expenses on the replacement of stores and spares as revenue expenditure. The court emphasized that the replaced parts were integral components of the main machinery and not independent machines, restoring the machinery to its original efficiency without creating new assets. The consistent rulings and precedents supported this classification, leading to the dismissal of the revenue's appeal without the need for further adjudication. en-us Mon, 08 Jul 2019 00:00:00 +0530 Tue, 21 Jul 2020 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382981 The High Court affirmed the decision of the ITAT to treat expenses on the replacement of stores and spares as revenue expenditure. The court emphasized that the replaced parts were integral components of the main machinery and not independent machines, restoring the machinery to its original efficiency without creating new assets. The consistent rulings and precedents supported this classification, leading to the dismissal of the revenue's appeal without the need for further adjudication. Case-Laws Income Tax Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382981