Sri Vasudeva Textiles Limited, Coimbatore vs. JCIT, Coimbatore
In the result, the appeal of the assessee is partly allowed
ITA 1689/CHNY/2000[1995-96]Status: DisposedITAT Chennai04 Mar 2016AY 1995-96
Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No. 1689/Mds/2000 "नधा"रण वष" / Assessment Year : 1995-96 M/S Sri Vasudeva Textiles Limited, The Joint Commissioner Of 2/167, Ellappalayam Post, V. Income Tax, Pogalur, Annur Via Special Range – I, Coimbatore – 641 697. Coimbatore – 18. Pan : Cq - 9240 (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Appellant: Sh. T. Banusekar, CAFor Respondent: Sh. N. Madhavan, JCIT
Section 143(2)Section 143(3)Section 147Section 148
…d. & Others (2005) 275 ITR 403, the Ld. representative submitted that the cost of machinery was allowed as revenue expenditure. Referring to the judgment of various High Courts, including the judgment of Kerala High Court in CIT v. Steel Complex Ltd. (1999) 238 ITR 1054, the Ld. representative submitted that when the expenditure was resulting in advantage of enduring nature, but nevertheless the Revenue feels the expenditure laid out would still be regarded as revenue in nature. Referring to the judgment of Apex Court in CIT v. Mahalakshmi Textile Mills Ltd. 919670 66 ITR 710, the Ld. representative submitt…
