https://www.taxtmi.com/caselaws?id=20251 The High Court dismissed the Revenue's petition, upholding that the expenditure on fitting gear boxes to the steamer was revenue expenditure. The Court found it enhanced efficiency and profitability without conferring an enduring benefit, aligning with the decision in Alembic Chemical Works Co. Ltd. v. CIT [1989] 177 ITR 377. Consequently, the expenditure was deemed as revenue expenditure, and no referable question of law arose from the Tribunal's decision. en-us Tue, 22 Feb 1994 00:00:00 +0530 Thu, 12 Nov 2009 17:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20251 The High Court dismissed the Revenue's petition, upholding that the expenditure on fitting gear boxes to the steamer was revenue expenditure. The Court found it enhanced efficiency and profitability without conferring an enduring benefit, aligning with the decision in Alembic Chemical Works Co. Ltd. v. CIT [1989] 177 ITR 377. Consequently, the expenditure was deemed as revenue expenditure, and no referable question of law arose from the Tribunal's decision. Case-Laws Income Tax Tue, 22 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20251