show what amount would be required annually to replace loose tools. furniture, moulds, motor cars, laboratory equipment, etc. According to this statement ... replacement is required to be made in the case of loose tools, furniture, etc., because it appears from the assessment orders filed by the company
This is in addition to the value of
stock of stores, loose tools, etc. claimed
separately as revenue expenditure. The items viz.
Tools, Dies, Jigs ... revenue but
capital expenditure as they are not consumable items
like loose tools. Unlike loose tools, the life of
'Tools, Dies, Jigs & Moulds
third part is of current assets comprising of stores, spare-parts, loose tools, sundry debtors, works-in-progress, stock-in-trade and miscellaneous current assets
After search, 10 cases of Express Battery Sprayers (containers), some loose tools, and attachments, and some papers and documents were seized. On December
case, the Tribunal was right in law in holding that loose tools worth Rs. 2,39,633 purchased by the assessee during the year constituted
demand of the vendor into and upon the said premises;
(b) loose machinery, tools, spare parts, stores of and belonging to the vendor and relating
tool of the printer and the same is consumed in the process of printing and looses its identity as goods and, therefore, no property
protection of Indian Machine
Tools Industries and not to earn profits. Merely because some income
may arise it does not loose its charitable purpose
tool of the printer
and the same is consumed in the process of
printing and looses its identity as goods and,
therefore, no property
replaced from
time to time to the Asset and all spares, tools pertaining to
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the Asset, whether lying loosed or fixed to the Asset and
where ever the same are now lying
