https://www.taxtmi.com/caselaws?id=20771 The High Court of Rajasthan ruled in favor of the Revenue, determining that the expenditure on replacing a petrol engine with a diesel engine was not allowable as revenue expenditure for the assessment year 1978-79. The court emphasized the distinction between capital and revenue expenditure based on enduring benefits and recurring costs. It found that the Tribunal had erred in allowing the deduction without sufficient consideration of the facts and provisions of the Income-tax Act, remanding the case for a fresh decision. en-us Tue, 13 Oct 1992 00:00:00 +0530 Tue, 17 Nov 2009 11:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20771 The High Court of Rajasthan ruled in favor of the Revenue, determining that the expenditure on replacing a petrol engine with a diesel engine was not allowable as revenue expenditure for the assessment year 1978-79. The court emphasized the distinction between capital and revenue expenditure based on enduring benefits and recurring costs. It found that the Tribunal had erred in allowing the deduction without sufficient consideration of the facts and provisions of the Income-tax Act, remanding the case for a fresh decision. Case-Laws Income Tax Tue, 13 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20771