Our Bureau

New Delhi, Aug. 26

THE case that has brought Ms Nalini Chidambaram into the spotlight relates to an income-tax dispute on treatment of a certain expenditure as capital or a revenue expenditure.

Informed sources said the question of law that was to be settled before the Madras High Court was whether replacement of particular machine parts could be categorised as revenue expenditure or not.

While the principal case related to Janakiraman Mills vs CIT, the dispute acquired greater significance as a number of other cases dealt with the same issue (therefore, they were all batched together).

A Finance Ministry official said the judgment on the case had been delivered in April this year.The Madras High Court dismissed the department's appeal.

(This article was published in the Business Line print edition dated August 27, 2005)
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