https://www.taxtmi.com/caselaws?id=117504 The Tribunal allowed the set-off of interest received on share application money, expenditure on gifts and presentations, pooja expenses, village welfare expenses, and depreciation on office premises in favor of the assessee. It partially allowed the expenditure on a technical conference and directed the capitalization of power lines and transmission towers expenditure. Disallowances of guesthouse expenses and penalty proceedings were upheld. Miscellaneous expenditures on quarry development, market research, and corporate image advertisement were allowed as revenue expenditures. en-us Fri, 03 Jun 2005 00:00:00 +0530 Sat, 23 Jun 2012 11:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117504 The Tribunal allowed the set-off of interest received on share application money, expenditure on gifts and presentations, pooja expenses, village welfare expenses, and depreciation on office premises in favor of the assessee. It partially allowed the expenditure on a technical conference and directed the capitalization of power lines and transmission towers expenditure. Disallowances of guesthouse expenses and penalty proceedings were upheld. Miscellaneous expenditures on quarry development, market research, and corporate image advertisement were allowed as revenue expenditures. Case-Laws Income Tax Fri, 03 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117504