The Commissioner Of Income Tax Delhi-Iv vs M/S Hi Line Pens Pvt. Ltd. on 15 September, 2008
We further find force in the contention of the Ld. Counsel for the assessee that since in
this case rolls used in iron and steel industries are the parts of the machinery and are
replaced very frequently during the year the expenses incurred on replacement of the
rolls is allowable as current repairs, therefore, cannot be disallowed simply because
assessee was entitled to get 80% depreciation on this item u/s. 32 of the Act. The
Hon'ble Delhi High Court in the case of CIT Vs. Hi Line Pens Pvt. Ltd. (Supra) has
held as under :