https://www.taxtmi.com/caselaws?id=119396 Section 68 additions based on third-party material not confronted to the assessee cannot be sustained, and section 80-IA(8) market value is the price reflecting an open-market transaction rather than a regulated supply rate. Aircraft-trip expenditure is allowable under section 37(1) only to the extent it is linked to business purpose, with non-business travel disallowed and relief-related travel treated as potentially business-connected. Depreciation is allowable on hydraulic excavators where the asset is ready for use or put to passive use, and depreciation on turbines follows the assessee's accepted method where the issue has already been decided in its favour for an earlier year. en-us Thu, 07 Jun 2007 00:00:00 +0530 Fri, 09 Feb 2024 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119396 Section 68 additions based on third-party material not confronted to the assessee cannot be sustained, and section 80-IA(8) market value is the price reflecting an open-market transaction rather than a regulated supply rate. Aircraft-trip expenditure is allowable under section 37(1) only to the extent it is linked to business purpose, with non-business travel disallowed and relief-related travel treated as potentially business-connected. Depreciation is allowable on hydraulic excavators where the asset is ready for use or put to passive use, and depreciation on turbines follows the assessee's accepted method where the issue has already been decided in its favour for an earlier year. Case-Laws Income Tax Thu, 07 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119396