https://www.taxtmi.com/caselaws?id=63444 Imported plant and machinery cost should not be reduced merely on an unsupported over-invoicing allegation; findings in connected foreign-exchange proceedings may carry evidentiary value. Pre-commencement expenditure directly connected with establishing a plant, including specified installation-related outlays, may form part of its capital cost, while unauthorised foreign-technician remittances may be disallowed. Excise duty may be deductible when liability crystallises for the relevant year despite dispute, stay of recovery or absent book entry. First appellate authorities have co-terminus powers to admit bona fide additional grounds. Development rebate and depreciation may apply to qualifying plant-related assets, and a recognised direct-cost inventory valuation method may be used consistently where it fairly reflects 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 Imported plant and machinery cost should not be reduced merely on an unsupported over-invoicing allegation; findings in connected foreign-exchange proceedings may carry evidentiary value. Pre-commencement expenditure directly connected with establishing a plant, including specified installation-related outlays, may form part of its capital cost, while unauthorised foreign-technician remittances may be disallowed. Excise duty may be deductible when liability crystallises for the relevant year despite dispute, stay of recovery or absent book entry. First appellate authorities have co-terminus powers to admit bona fide additional grounds. Development rebate and depreciation may apply to qualifying plant-related assets, and a recognised direct-cost inventory valuation method may be used consistently where it fairly reflects income. Case-Laws Income Tax Wed, 12 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63444