https://www.taxtmi.com/caselaws?id=25447 The court found in favor of the assessee, determining that the expenditure on replacing petrol engines with diesel engines in jeeps was of a revenue nature for computing business income. The decision was based on the aim and object of the expenditure, which was to augment profits due to the rise in petrol prices. The court distinguished this case from a Kerala High Court decision, emphasizing that the replacement did not result in an enduring benefit but was aimed at increasing current profits. As a result, the court ruled in favor of the assessee, with no costs awarded. en-us Wed, 18 Mar 1987 00:00:00 +0530 Thu, 28 Jan 2010 16:11:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25447 The court found in favor of the assessee, determining that the expenditure on replacing petrol engines with diesel engines in jeeps was of a revenue nature for computing business income. The decision was based on the aim and object of the expenditure, which was to augment profits due to the rise in petrol prices. The court distinguished this case from a Kerala High Court decision, emphasizing that the replacement did not result in an enduring benefit but was aimed at increasing current profits. As a result, the court ruled in favor of the assessee, with no costs awarded. Case-Laws Income Tax Wed, 18 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25447