Truck Body replacement expense is revenue expenditure

Ashim Krishna Bhatta Vs ACIT (ITAT Kolkata)

ITAT note that the assessee is an operator of trucks and lorries on hire. During the year, the assessee has incurred expenditure on replacements of old truck bodies which was treated as revenue expenditure however wrongly shown under the head depreciation by claiming 100% of the said expenditure as allowable during the year instead t of charging the expenditure directly to the profit and loss account as the revenue item. We note that the authorities below have not been doubted the

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