Court Clarifies: Replacing Machinery Parts Qualifies as Current Repairs, Not New Acquisition, u/s 31.

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....Deduction u/s 31 - current repair to machinery or plant - replacement of parts -The mere fact that the new parts are different from those that were replaced, in terms of cost, or efficiency; by itself does not lead to the conclusion that the assessee has acquired new item of machinery - claim allowed - HC....