current repairs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2010
whether replacement of worn out spindles in a textile mill is a revenue expenditure
CA. Varun Goel
(Expert)
02 February 2010
Any replacement in the fixed asset is a revenue expenditure unless it increases the capacity or life of the fixed asset
In your case if the replacement does not increase the capacity or life of the fixed asset then it is a revenue expenditure
In your case if the replacement does not increase the capacity or life of the fixed asset then it is a revenue expenditure
02 February 2010
Agree. CA Varun is right.
CMA Ramesh Krishnan
(Expert)
02 February 2010
AGREE
03 February 2010
Can be claimed as revenue expenditure in view of the Karnataka High Court decision in
CIT Vs. Sagar Talkies (2008) 173 Taxman 12 (Karn).
In the cited case court concluded that expenditure on account of replacement of old worn out mono sound system with a new stereo system is revenue expenditure.
CIT Vs. Sagar Talkies (2008) 173 Taxman 12 (Karn).
In the cited case court concluded that expenditure on account of replacement of old worn out mono sound system with a new stereo system is revenue expenditure.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
