https://www.taxtmi.com/caselaws?id=215540 The ITAT, Cuttack, allowed the assessee's appeal in part, directing deletion of disallowed "Peripheral Development Expenses" under Section 37 of the IT Act. The ITAT set aside the CIT(A)'s order on deduction under Section 80HHC and instructed reconsideration. Disallowances on interest on land compensation and additional depreciation were upheld by the ITAT. However, disallowances under prior period adjustments, other miscellaneous expenses, benevolent scheme, pot relining expenses, expenditure on debentures, and donation to Sports Authority of India were allowed as revenue expenditures. The ITAT dismissed the Revenue's appeal. en-us Fri, 25 May 2012 00:00:00 +0530 Thu, 26 Jul 2012 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215540 The ITAT, Cuttack, allowed the assessee's appeal in part, directing deletion of disallowed "Peripheral Development Expenses" under Section 37 of the IT Act. The ITAT set aside the CIT(A)'s order on deduction under Section 80HHC and instructed reconsideration. Disallowances on interest on land compensation and additional depreciation were upheld by the ITAT. However, disallowances under prior period adjustments, other miscellaneous expenses, benevolent scheme, pot relining expenses, expenditure on debentures, and donation to Sports Authority of India were allowed as revenue expenditures. The ITAT dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215540