https://www.taxtmi.com/caselaws?id=304773 Plantation companies' entitlement under Rule 7A(2) to replanting allowance and a further deduction for upkeep and maintenance of immature rubber plants was not finally decided; the Court noted tension between an earlier Division Bench view treating such expenditure as capital and Supreme Court authority treating upkeep of immature plants as revenue expenditure. As Rule 7A(2), like Rule 8(2), addresses only replacement planting cost and not upkeep expenses, the Court held that an authoritative larger-Bench reconsideration was necessary and referred the question to a Full Bench. en-us Thu, 28 Oct 2021 00:00:00 +0530 Thu, 20 Oct 2022 22:01:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304773 Plantation companies' entitlement under Rule 7A(2) to replanting allowance and a further deduction for upkeep and maintenance of immature rubber plants was not finally decided; the Court noted tension between an earlier Division Bench view treating such expenditure as capital and Supreme Court authority treating upkeep of immature plants as revenue expenditure. As Rule 7A(2), like Rule 8(2), addresses only replacement planting cost and not upkeep expenses, the Court held that an authoritative larger-Bench reconsideration was necessary and referred the question to a Full Bench. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304773