https://www.taxtmi.com/highlights?id=51923 Nature of expenditure - current repairs - Replacement of an old machine with a new one would constitute the bringing into existence of a new asset in place of the old one and not repair of the old and existing machine. It therefore cannot amount to current repairs. - AT en-us Fri, 21 Feb 2020 12:05:03 +0530 Fri, 21 Feb 2020 12:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51923 Nature of expenditure - current repairs - Replacement of an old machine with a new one would constitute the bringing into existence of a new asset in place of the old one and not repair of the old and existing machine. It therefore cannot amount to current repairs. - AT Highlights Income Tax Fri, 21 Feb 2020 12:05:03 +0530 https://www.taxtmi.com/highlights?id=51923