Madras High Court Allows Revenue's Appeal in Part on Replacement of Machinery and Depreciation Issues Under Income Tax Act, 1961. Expenditure on Replacement of Entire Machinery is Capital Expenditure; IFCI Adjustment Not Actual Payment Under Section 43AB; Full Depreciation on Dumpers Requires Evidence of Use.
22 Jan 2025The appeal was filed by the Commissioner of Income Tax, Madurai, against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, dated 26.12...
