Second hand machinery purchased for use as spare parts for existing old machineries has to be considered as an allowable expenditure on revenue side

DECIDED BY: HIGH COURT OF KARNATAKA, IN THE CASE OF: Dr. Aswath N. Rao Vs. ACIT , APPEAL NO: ITA No. 2900/2005, DECIDED ON January 23, 2010 JUDGMENT The assessee has come up in this appeal challenging the concurrent findings of c-11 the authorities below. 2. The facts leading to this case are as here under: Assesses is a Cardiologist by profession. He is assessed to tax by the respondent. Method of Accounting of that asseesee is cash system. For the assessment year 2001-02 he filed returns of income. He claim the expenditure incurred on purchase of second hand medical equipment from USA dated...