Meaning of tax terms

Meaning of “Current repairs v. Repairs”

Posted on by Prashant Thakur

Case Name : Girdhari dass & sons Vs. Cit 

Citation : [1976] 105 itr 339 (all.)

Court :  Allahabad high court

Section : 30 & 31

Meaning : There is a difference between ‘repairs’ and ‘current repairs’. ‘Current repairs’ means only such repairs as are necessitated by the day-to-day wear and tear during the relevant previous year only, while ‘repairs’ may mean accumulated repairs of several years.

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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