Nature of expenditure - current repairs - Replacement of an old ...

Replacing Old Machine Seen as New Asset Creation, Not Repair; Affects Income Tax Treatment.

February 21, 2020

Case Laws Income Tax AT

Nature of expenditure - current repairs - Replacement of an old machine with a new one would constitute the bringing into existence of a new asset in place of the old one and not repair of the old and existing machine. It therefore cannot amount to current repairs. - AT

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Nature of expenditure - current repairs - Replacement of an old ...

Replacing Old Machine Seen as New Asset Creation, Not Repair; Affects Income Tax Treatment.

February 21, 2020

Case Laws Income Tax AT

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