1999 (7) TMI 12

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....<br>- - -<br>Income Tax<br>Judge(s)&nbsp; : R. JAYASIMHA BABU., MRS. A. SUBBULAKSHMY&nbsp; JUDGMENT The judgment of the court was delivered by R. JAYASIMHA BABU J.---The Revenue seeks a reference f....

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.... 351, that the expenditure of replacement of parts of machinery is not to be regarded as capital in nature. The Revenue's contention that the cost of replacement of ring frames should be treated as ca....