https://www.taxtmi.com/caselaws?id=23772 The High Court ruled in favor of the Punjab State Civil Supplies Corporation Ltd., allowing the deduction of expenditure on tarpaulins and Polythene covers as revenue expenditure under section 37 of the Income-tax Act, 1961. The Court emphasized the necessity of the covers for protecting stored foodgrains, categorizing the expenditure as revenue in nature based on previous Supreme Court decisions. It differentiated the case from capital expenditure scenarios, highlighting the recurring nature of the Corporation's expenditure and ultimately held that the entire expenditure on the covers qualifies as revenue expenditure. en-us Mon, 31 Jul 1989 00:00:00 +0530 Thu, 14 Jan 2010 11:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23772 The High Court ruled in favor of the Punjab State Civil Supplies Corporation Ltd., allowing the deduction of expenditure on tarpaulins and Polythene covers as revenue expenditure under section 37 of the Income-tax Act, 1961. The Court emphasized the necessity of the covers for protecting stored foodgrains, categorizing the expenditure as revenue in nature based on previous Supreme Court decisions. It differentiated the case from capital expenditure scenarios, highlighting the recurring nature of the Corporation's expenditure and ultimately held that the entire expenditure on the covers qualifies as revenue expenditure. Case-Laws Income Tax Mon, 31 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23772