2001 (10) TMI 70

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..... intains that the following substantial question of law arises for the consideration of this court: "Whether, on the facts and circumstances of the case, the Income-tax Appellate Tribunal was right in law in treating the expenses incurred on the purchase of rolls as a revenue expenditure particularly when such rolls have been termed as capital assets of the concern on which depreciation is allowa .....

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..... e does not result in creating of capital asset or benefit of enduring nature." We find that in the circumstances of the case, the view taken by the Tribunal is just and reasonable. It is not shown to be contrary to any provision of law. In fact, it is the Revenue's own case that the frequent change of rolls is essential for preparing the, finished products. Thus, no substantial question of law .....

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