2003 (3) TMI 35

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..... - replacement has neither changed the installed capacity of the assessee nor brought into existence any new assets of enduring nature. The replacement of draw frame has not also brought any substantial improvement on the installed capacity of the textile unit – Held that cost of replacement of draw frame should only be treated as revenue expenditure - - - - - Dated:- 26-3-2003 - Judge(s) : R. J .....

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..... enue expenditure. On appeal by the Revenue, the Tribunal following the earlier order in the case of Nagammal Mills Limited, upheld the order of the Commissioner of Incometax (Appeals). Hence the reference under section 256(1) of the Income-tax Act before us. As seen from the statement of facts and also from the order of the Commissioner of Income-tax (Appeals), the replacement has neither change .....

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