Expense on purchase of precious metals for repair of machineries allowable

Advertisement Schott Glass India Pvt. Ltd Vs. ITO (ITAT Mumbai) We notice that assessee is in the business of manufacturing glass tubes and in the manufacturing, the melted glass has to pass thru feeder/nozzles in the furnaces. The temperature in which the melted glass is passed through feeder or nozzles at 1600 degree or more. It is not disputed that the assessee has to use the special metals like rhodium and platinum in the production process. In order to reduce the cost of utilization of precious metals, assessee entered into lease agreement to utilize the leased feeder/nozzles from the ...