https://www.taxtmi.com/caselaws?id=207657 The ITAT allowed the assessee's appeals partly, directing the AO to allow depreciation on the WDV method, set aside the disallowance of expenses under Section 14A for re-adjudication, and restore the issue of prior period expenses for proper examination. The ITAT also allowed the disputed liability for power purchase from GEB and directed re-computation of interest under Section 234B. Furthermore, the ITAT instructed the AO to quantify unabsorbed depreciation and carry forward business loss in accordance with its decision. The judgment highlighted the importance of following legal precedents and conducting thorough examinations for determining tax liabilities. en-us Fri, 26 Nov 2010 00:00:00 +0530 Tue, 20 Dec 2011 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207657 The ITAT allowed the assessee's appeals partly, directing the AO to allow depreciation on the WDV method, set aside the disallowance of expenses under Section 14A for re-adjudication, and restore the issue of prior period expenses for proper examination. The ITAT also allowed the disputed liability for power purchase from GEB and directed re-computation of interest under Section 234B. Furthermore, the ITAT instructed the AO to quantify unabsorbed depreciation and carry forward business loss in accordance with its decision. The judgment highlighted the importance of following legal precedents and conducting thorough examinations for determining tax liabilities. Case-Laws Income Tax Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207657