HIGH COURT OF MADRAS

Commissioner of Income-tax

v.

Saravana Spinning Mills (P.) Ltd.

P. D. Dinakaran and Mrs. Chitra Venkataraman, JJ.

T. C. (A) No. 2705 of 2006

January 18, 2007

Section 37(1) of the Income-tax Act, 1961 - Business expenditure - Allowability of - Assessment year 2001-02 - Whether expenditure on replacement of machinery is revenue expenditure - Held, yes