https://www.taxtmi.com/caselaws?id=215866 Section 14A disallowance was deleted because the assessee had sufficient own funds, no borrowed-fund nexus with exempt investments was shown, and Rule 8D did not apply for the year concerned. The write-off of octroi deposit and CENVAT/excise-related amounts was not allowed because statutory levies covered by section 43B are deductible only on actual payment, not on write-off. Higher depreciation on windmill-related civil construction and electrical items was sustained on the basis of the earlier year's view in the assessee's own case. The loss on sale or discard of worn-out machinery was remanded for fresh verification and recomputation. en-us Mon, 25 Jun 2012 00:00:00 +0530 Mon, 20 Aug 2012 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215866 Section 14A disallowance was deleted because the assessee had sufficient own funds, no borrowed-fund nexus with exempt investments was shown, and Rule 8D did not apply for the year concerned. The write-off of octroi deposit and CENVAT/excise-related amounts was not allowed because statutory levies covered by section 43B are deductible only on actual payment, not on write-off. Higher depreciation on windmill-related civil construction and electrical items was sustained on the basis of the earlier year's view in the assessee's own case. The loss on sale or discard of worn-out machinery was remanded for fresh verification and recomputation. Case-Laws Income Tax Mon, 25 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215866