2010 (8) TMI 679

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....sallowing the claim of expenditure on replacement of machinery as revenue expenditure,more so in the context of the latest full bench decision of the Hon'ble Supreme Court in the case of CIT vs. Bjojraj Textiles Mills Ltd and also another Bench decision of the Supreme Court in the case of CIT vs. Hindustan Textiles which was rendered after the decision of Supreme Court in the case of CIT vs. Sri Mangayarkarasi Mills Pvt.Ltd (315 ITR 114)?   b) Whether on the facts and circumstances of the case, the test of enduring benefit is the only criteria in determining whether expenditure is capital or revenue in nature?   c) Whether on the facts and circumstances of the case, the Appellate Tribunal is right in law in presuming that the fa....

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.... Pvt.Ltd.(315 ITR 114). Challenging the said order of the Tribunal, the assessee has come up before this court raising the substantial questions of law mentioned above.   3. Heard Mr.Sivaraman, the learned counsel for the assessee and Mr.J.Naresh Kumar, the learned Standing counsel for the revenue.   4. The issue raised in the present appeal particularly with reference to the substantial question of laws (a) and (b) are concerned is covered by the Full Bench Judgment of the Hon'ble Apex Court in the case of CIT vs. Bhojraj Textile Mills Limited, which is followed in one other decision of the Hon'ble Apex Court in the case of CIT vs. Hindustan Textiles. The aforesaid judgments of the Hon'ble Apex court were also followed by this ....