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Section 31 pgbp

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13 June 2013 in case of expenditure incurred in replacing petrol engines fitted in jeeps (used for business purpose) with diesel engines in view of the old and defective condition of the existing engines and the price variation in petrol as compared to diesel... is it a capital expenditure or a revenue expenditure?
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14 June 2013 It is a clear replacement hence no deduction u/s 31, expenditure should be capitalized to claim deduction u/s 32
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