Expenditure on Replacement of Jigs and Fixtures is Revenue Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while upholding the order of CIT(A) said the whenever the jigs and fixtures were replaced due to constant wear and tear and also due to changes in the design of the part, the assessee can claim the same as revenue expenditure for the purpose of Income Tax […]

from Taxscan | Simplifying Tax Laws https://ift.tt/32Id1Vo