The Madras High Court has held that the replacement of the machineries as a whole cannot be held to be current repairs or allowable revenue expenditure. The ruling was made by a division bench comprising of Members Justice Vineet Kothari and Justice R.Suresh Kumar in the case of Commissioner of Income Tax Salem Vs. M/s.Jawahar […]
The post No Tax Deduction for Replacement of Machineries: Madras HC [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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