High Court held that the expenditure incurred by the assessee on replacement of remembraning in the membrane cell plant was a revenue expenditure. SLP of Revenue is dismissed. (AY. 1999-2000, 2000-01)
CIT v. Gujarat Alkalies and Chemicals Ltd. (2023)454 ITR 808 (SC) Editorial: CIT v. Gujarat Alkalies and Chemicals Ltd (2015) 372 ITR 237 (Guj)(HC), affirmed. CIT v. Indian Petrochemicals Corporation Ltd (2017) 10 ITR-OL 275 (Guj)(HC), affirmed.
S. 37(1) : Business expenditure-Capital or revenue-Expenditure on replacement of remembraning in membrane cell plant-No material to show membrane itself could be treated as separate and independent machine-Revenue expenditure.