https://www.taxtmi.com/caselaws?id=390894 The High Court allowed the Revenue's appeals, ruling against the cost of machinery replacement as revenue expenditure. It emphasized the distinction between current repairs and machinery replacement based on Supreme Court decisions. The Court held that replacement of old machinery does not qualify as current repairs, and deductions cannot be granted under the Income Tax Act for such expenses. The judgment set aside previous orders allowing such deductions, favoring the Revenue's position. en-us Tue, 17 Dec 2019 00:00:00 +0530 Mon, 13 Jan 2020 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390894 The High Court allowed the Revenue's appeals, ruling against the cost of machinery replacement as revenue expenditure. It emphasized the distinction between current repairs and machinery replacement based on Supreme Court decisions. The Court held that replacement of old machinery does not qualify as current repairs, and deductions cannot be granted under the Income Tax Act for such expenses. The judgment set aside previous orders allowing such deductions, favoring the Revenue's position. Case-Laws Income Tax Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390894