1963 (4) TMI 88 - HC - Income Tax

Summary

The High Court of Patna ruled in favor of the assessee, a public limited company running a railway, allowing the expenditure on replacing old sleepers with new ones as revenue expenditure for assessment years 1953-54 and 1954-55. The Income-tax Appellate Tribunal's decision was upheld based on the interpretation of "current repairs" under the Income-tax Act, 1922.