Assets purchased for showroom of dealer for promoting sale was capital expense

Apollo Tyres Ltd. Vs DCIT (Kerala High Court) Conclusion: Expenditure made by assessee towards purchase of equipment, such as wheel balancer/wheel aligner/wheel changer/tyre changer, was capital expenditure but not revenue expenditure as assessee had installed equipment’s, which could be removed and also could be taken back and reused in some other place and assessee would continue to be the owner of these equipments, though they were installed in the premises of the dealers. Held: Assessee claimed that the expenditure incurred for purchasing the equipment was an expenditure for refurbis...