Dismissing the appeal of the revenue the Court held that , replacement of damaged parts of existing machinery is revenue expenditure on the facts of the case no independent parts capable of functioning independently. ( AY.2004-05)
PCIT v. Gujarat Narmada Valley Fertilizer and Chemicals Ltd. (2020) 423 ITR 54 / 192 DTR 233(Guj) (HC )
S.37(1) : Business expenditure — Capital or revenue – Replacement of damaged parts of existing machinery — Revenue expenditure .