https://www.taxtmi.com/caselaws?id=215652 The Tribunal upheld the Revenue's view, ruling that capitalization of renovation and modernization expenditure in the books is a prerequisite for claiming a deduction under Section 80-IA(4)(iv)(c). The Tribunal held that "substantial renovation and modernization" necessitates an increase in the book value of transmission or distribution lines, excluding Capital Work in Progress (CWIP). The assessee's appeal was dismissed as they failed to meet the deduction criteria for AY 2005-06, with the Tribunal affirming the CIT(Appeals) decision. en-us Wed, 04 Jul 2012 00:00:00 +0530 Tue, 07 Aug 2012 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215652 The Tribunal upheld the Revenue's view, ruling that capitalization of renovation and modernization expenditure in the books is a prerequisite for claiming a deduction under Section 80-IA(4)(iv)(c). The Tribunal held that "substantial renovation and modernization" necessitates an increase in the book value of transmission or distribution lines, excluding Capital Work in Progress (CWIP). The assessee's appeal was dismissed as they failed to meet the deduction criteria for AY 2005-06, with the Tribunal affirming the CIT(Appeals) decision. Case-Laws Income Tax Wed, 04 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215652