https://www.taxtmi.com/caselaws?id=783892 Whether repairs and maintenance on plant and machinery were capital in nature was determined by assessing whether the outlay resulted in acquisition/replacement of an independent asset or conferred an enduring benefit. As the expenditure related only to minor replacement of parts/pipeline and components of the effluent treatment process, without replacing any plant or creating a new asset, it was held to be revenue; the disallowance as enhanced by CIT(A) was deleted. Whether professional charges were disallowable as share-capital related was decided by identifying the specific services. Fees for share transfer work, share capital audit reconciliation, and listing of equity shares were not for fresh issue of share capital and were allowable under s. 37(1); the AO was directed to delete the disallowance. en-us Mon, 22 Dec 2025 00:00:00 +0530 Wed, 24 Dec 2025 07:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783892 Whether repairs and maintenance on plant and machinery were capital in nature was determined by assessing whether the outlay resulted in acquisition/replacement of an independent asset or conferred an enduring benefit. As the expenditure related only to minor replacement of parts/pipeline and components of the effluent treatment process, without replacing any plant or creating a new asset, it was held to be revenue; the disallowance as enhanced by CIT(A) was deleted. Whether professional charges were disallowable as share-capital related was decided by identifying the specific services. Fees for share transfer work, share capital audit reconciliation, and listing of equity shares were not for fresh issue of share capital and were allowable under s. 37(1); the AO was directed to delete the disallowance. Case-Laws Income Tax Mon, 22 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783892