https://www.taxtmi.com/caselaws?id=69430 Valuation of Tata Tea Ltd. shares for capital gains was directed at face value of Rs. 147 per share, following a Madras High Court judgment. Expenditure on advertisement inviting deposits was treated as revenue expenditure. Depreciation on Bio-Gas Generating Systems was allowed, emphasizing genuine transactions. Depreciation claims on various assets were upheld except for Rolling Mills Rolls, remanded for verification. Guest house expenses were disallowed, and research fee expenses were remanded for reconsideration due to procedural violations. ITA Nos. 120, 121, and 122/Mds./99 were dismissed, while ITA Nos. 119 and 123/Mds./99 were partly allowed, with specific issues remanded for further verification. en-us Thu, 06 Apr 2006 00:00:00 +0530 Sat, 15 Jun 2013 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69430 Valuation of Tata Tea Ltd. shares for capital gains was directed at face value of Rs. 147 per share, following a Madras High Court judgment. Expenditure on advertisement inviting deposits was treated as revenue expenditure. Depreciation on Bio-Gas Generating Systems was allowed, emphasizing genuine transactions. Depreciation claims on various assets were upheld except for Rolling Mills Rolls, remanded for verification. Guest house expenses were disallowed, and research fee expenses were remanded for reconsideration due to procedural violations. ITA Nos. 120, 121, and 122/Mds./99 were dismissed, while ITA Nos. 119 and 123/Mds./99 were partly allowed, with specific issues remanded for further verification. Case-Laws Income Tax Thu, 06 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69430