https://www.taxtmi.com/caselaws?id=19885 The High Court held that the expenditure incurred in replacing a petrol engine with a diesel engine by the respondent-assessee was revenue expenditure for repairs of machinery, falling under section 31 of the Income-tax Act. The court emphasized the distinction between capital and revenue expenditure, stating that the replacement was done to reduce operating costs and increase profits, not to create an enduring asset. Citing legal precedents, the court dismissed the application, ruling that no question of law arose for consideration in this case. en-us Fri, 26 Aug 1994 00:00:00 +0530 Tue, 10 Nov 2009 13:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19885 The High Court held that the expenditure incurred in replacing a petrol engine with a diesel engine by the respondent-assessee was revenue expenditure for repairs of machinery, falling under section 31 of the Income-tax Act. The court emphasized the distinction between capital and revenue expenditure, stating that the replacement was done to reduce operating costs and increase profits, not to create an enduring asset. Citing legal precedents, the court dismissed the application, ruling that no question of law arose for consideration in this case. Case-Laws Income Tax Fri, 26 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19885