2003 (3) TMI 35

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....red by K. RAVIRAJA PANDIAN J.-The question referred is: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the expenditure on purchase of drawn frame is "revenue expenditure?" The assessment year is 1987-88. The assessee is a closely held company engaged in the manufacture and sale of yarn and its by-products. During the ....