https://www.taxtmi.com/caselaws?id=66115 The appeal was partly allowed. The disallowance of unabsorbed depreciation was confirmed, but the interest payable on loans was allowed as revenue expenditure. Depreciation on additional liability due to foreign exchange fluctuation was also allowed. Relief under sections 80HH and 80-I was directed to be computed independently. The Assessing Officer was instructed to modify the assessment accordingly based on the Tribunal's findings on the various grounds. en-us Mon, 20 Dec 1999 00:00:00 +0530 Mon, 21 Feb 2011 16:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66115 The appeal was partly allowed. The disallowance of unabsorbed depreciation was confirmed, but the interest payable on loans was allowed as revenue expenditure. Depreciation on additional liability due to foreign exchange fluctuation was also allowed. Relief under sections 80HH and 80-I was directed to be computed independently. The Assessing Officer was instructed to modify the assessment accordingly based on the Tribunal's findings on the various grounds. Case-Laws Income Tax Mon, 20 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66115