https://www.taxtmi.com/caselaws?id=67085 The appeals were partly allowed in the case. The disallowance of interest under Section 40A(8) of the IT Act was not upheld except for a minor disallowance in one instance. The deduction under Section 80J of the IT Act was denied for borrowed capital. Expenses incurred on unsuccessful tube wells were disallowed, but treated as part of plant and machinery for depreciation. The capital subsidy received was held not deductible from the cost of fixed assets for depreciation purposes. en-us Thu, 27 Jun 1985 00:00:00 +0530 Fri, 23 Sep 2011 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67085 The appeals were partly allowed in the case. The disallowance of interest under Section 40A(8) of the IT Act was not upheld except for a minor disallowance in one instance. The deduction under Section 80J of the IT Act was denied for borrowed capital. Expenses incurred on unsuccessful tube wells were disallowed, but treated as part of plant and machinery for depreciation. The capital subsidy received was held not deductible from the cost of fixed assets for depreciation purposes. Case-Laws Income Tax Thu, 27 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67085