1980 (10) TMI 34

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....ollowing question is sought to be referred in this matter : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the sum of Rs. 6,53,463 representing the cost of modernisation of the mills' machinery can be said to be in the nature of revenue expenditure and should, therefore, be allowed as a deduction in computing the income of the ....