Court held that that the Tribunal was correct in treating the expenditure as capital expenditure on the ground that ownership of the assets was retained by the assessee. (AY. 2003-04)
Apollo Tyres Ltd. v. Dy. CIT (2021) 438 ITR 526/ 283 Taxman 427 (Ker.)(HC)
S. 37(1) : Business expenditure-Capital or revenue-Acquisition of equipment-Used by dealer in showrooms-Not allowable as revenue expenditure. [S. 32]