https://www.taxtmi.com/caselaws?id=63444 The note states that imported machinery cost cannot be reduced on mere suspicion of over-invoicing without cogent evidence, and that a finding in related foreign exchange proceedings may have evidentiary value. It also explains that foreign technician payments are capitalisable only to the extent not authorised, while pre-production expenditure directly connected with setting up the plant may form part of actual cost. Disputed excise duty may be deductible once the liability has crystallised for the relevant year, even if contested. The first appellate authority may admit bona fide additional grounds, and recognised stock valuation methods, including direct cost, may be accepted if they fairly reflect income. en-us Wed, 12 Aug 1992 00:00:00 +0530 Mon, 31 Jan 2011 10:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63444 The note states that imported machinery cost cannot be reduced on mere suspicion of over-invoicing without cogent evidence, and that a finding in related foreign exchange proceedings may have evidentiary value. It also explains that foreign technician payments are capitalisable only to the extent not authorised, while pre-production expenditure directly connected with setting up the plant may form part of actual cost. Disputed excise duty may be deductible once the liability has crystallised for the relevant year, even if contested. The first appellate authority may admit bona fide additional grounds, and recognised stock valuation methods, including direct cost, may be accepted if they fairly reflect income. Case-Laws Income Tax Wed, 12 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63444