1. M/S. Sri Mangayarkarasi Mills (P) Ltd (SC)[Related to section 31 & section 37]

"Whether expenditure incurred on replacement of machinery, in the facts and circumstances of this case, amounts to ‘revenue expenditure’ deductible under section 37 of the Act or ‘current repairs' deductible under section 31 of the Act."

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2. Ms Fair Deal Traders (P&H HC) [ Related to section 256(1)]

“Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the amount received as advance money towards sale price of land was not be considered as assessee’s income till the sale was complete and title passed to the buyers under registered sale deeds, though possession of land had been given?"

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 CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

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