https://www.taxtmi.com/caselaws?id=71967 The Tribunal upheld the CIT(A)'s decision to allow demurrage charges as deductible revenue expenditure, reduced disallowance of various expenses, treated oil wells as 'building' for depreciation, allowed depreciation on gas separator and flood light mast as 'plant and machinery', permitted deduction u/s 80-IB(9) for profits from a specific undertaking, considered specific wells as separate undertakings, included 'natural gas' under 'mineral oil' for deduction purposes, disallowed certain business promotion expenses, deleted disallowance for expatriate employee accommodation, and restricted disallowance of administrative expenses. en-us Fri, 29 Feb 2008 00:00:00 +0530 Mon, 05 Sep 2016 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71967 The Tribunal upheld the CIT(A)'s decision to allow demurrage charges as deductible revenue expenditure, reduced disallowance of various expenses, treated oil wells as 'building' for depreciation, allowed depreciation on gas separator and flood light mast as 'plant and machinery', permitted deduction u/s 80-IB(9) for profits from a specific undertaking, considered specific wells as separate undertakings, included 'natural gas' under 'mineral oil' for deduction purposes, disallowed certain business promotion expenses, deleted disallowance for expatriate employee accommodation, and restricted disallowance of administrative expenses. Case-Laws Income Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71967