https://www.taxtmi.com/caselaws?id=206642 The High Court dismissed three appeals challenging the admissibility of deduction under Section 80 HHC for assessment years 2002-03, 2003-04, and 2004-05, as well as the nature of expenditure on repairs of transformers for the assessment year 2004-05, and reduction under Section 115 JB(IV) for the absence of eligible profit. The Court upheld the findings of the ITAT, emphasizing that the expenses were for restoring existing capabilities, not acquiring new assets. It clarified the computation of book profits under Section 115 JB and found no substantial legal questions, leading to the dismissal of all appeals. en-us Fri, 21 Oct 2011 00:00:00 +0530 Thu, 10 Nov 2011 06:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206642 The High Court dismissed three appeals challenging the admissibility of deduction under Section 80 HHC for assessment years 2002-03, 2003-04, and 2004-05, as well as the nature of expenditure on repairs of transformers for the assessment year 2004-05, and reduction under Section 115 JB(IV) for the absence of eligible profit. The Court upheld the findings of the ITAT, emphasizing that the expenses were for restoring existing capabilities, not acquiring new assets. It clarified the computation of book profits under Section 115 JB and found no substantial legal questions, leading to the dismissal of all appeals. Case-Laws Income Tax Fri, 21 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206642