https://www.taxtmi.com/caselaws?id=70321 The Tribunal partly allowed the appeals, directing the Assessing Officer to grant depreciation on roads under the category of buildings, aligning with the updated depreciation schedule. However, it upheld the denial of the assessee's claim to classify road construction expenditure as revenue expenditure, affirming it as capital expenditure due to the roads being on government land. Additionally, the Tribunal confirmed that the provision for doubtful debts does not qualify as an ascertained liability, thereby not deductible from book profits, consistent with the jurisdictional HC's precedent. en-us Fri, 24 Oct 2008 00:00:00 +0530 Tue, 14 Nov 2023 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70321 The Tribunal partly allowed the appeals, directing the Assessing Officer to grant depreciation on roads under the category of buildings, aligning with the updated depreciation schedule. However, it upheld the denial of the assessee's claim to classify road construction expenditure as revenue expenditure, affirming it as capital expenditure due to the roads being on government land. Additionally, the Tribunal confirmed that the provision for doubtful debts does not qualify as an ascertained liability, thereby not deductible from book profits, consistent with the jurisdictional HC's precedent. Case-Laws Income Tax Fri, 24 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70321