THE KERALA MINERALS AND METALS LIMITED,KOLLAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, KOLLAM
In the result, the appeal filed by the assessee stands partly allowed
ITA 918/COCH/2024[2007-08]Status: DisposedITAT Cochin16 May 2025AY 2007-08
Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2007-08 The Kerala Minerals & Metals Ltd. .......... Appellant Sankaramangalam, Chavara, Kollam 691583 [Pan: Aaact8118R] Vs. Asst. Commissioner Of Income Tax .......... Respondent Circle - 1, Kollam Appellant By: Shri Rajeev R., Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 13.05.2025 Date Of Pronouncement: 16.05.2025
For Appellant: Shri Rajeev R., CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)
capital expenditure.
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The Kerala Minerals and Metals Ltd.
23. Though the Act defines the expression "income", it does not define either the expression "expenditure" or the expression
"repairs or current repairs". However, several heads of expenditure are separately dealt with under Sections 35 and 35A to 35E.
24. Section 37(1) states that any expenditure laid out or expended
