https://www.taxtmi.com/caselaws?id=64204 Expenditure on an approved rural development programme was treated as deductible under section 35CC(1) because the assessee did not acquire ownership of the public school building renovated on Government or panchayat land, so section 35CC(2) was not attracted. Contribution to the railways for a platform and allied facilities was held to be revenue expenditure, as it secured business convenience rather than a capital asset or enduring ownership benefit. Old trade liabilities could not be added back merely because they remained outstanding for more than three years, since limitation does not extinguish the debt absent remission or cessation. Depreciation was also to be computed without reducing the subsidy from the written down value on the facts considered. en-us Tue, 15 Mar 1988 00:00:00 +0530 Sat, 05 Feb 2011 13:30:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64204 Expenditure on an approved rural development programme was treated as deductible under section 35CC(1) because the assessee did not acquire ownership of the public school building renovated on Government or panchayat land, so section 35CC(2) was not attracted. Contribution to the railways for a platform and allied facilities was held to be revenue expenditure, as it secured business convenience rather than a capital asset or enduring ownership benefit. Old trade liabilities could not be added back merely because they remained outstanding for more than three years, since limitation does not extinguish the debt absent remission or cessation. Depreciation was also to be computed without reducing the subsidy from the written down value on the facts considered. Case-Laws Income Tax Tue, 15 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64204