https://www.taxtmi.com/caselaws?id=234876 Expenditure on civil work for de-bottlenecking of an existing plant was held capital in nature because the assessee failed to show that no new asset, plant or machinery was brought into existence. Section 14A disallowance of interest was deleted since own interest-free funds exceeded exempt investments and no nexus with borrowed funds was proved, though a limited disallowance for other attributable expenses was sustained. Repairs, waterproofing, overhauling and renovation were treated as revenue expenditure because no new asset emerged. Under section 115JB, the gratuity provision was not added back, the section 14A MAT adjustment was restricted correspondingly, and take-or-pay rental charges required fresh factual examination. For section 80IA(4), captive power generation was linked to the GEB purchase rate, with the exact rate remanded. en-us Fri, 21 Jun 2013 00:00:00 +0530 Tue, 02 Jul 2013 10:01:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234876 Expenditure on civil work for de-bottlenecking of an existing plant was held capital in nature because the assessee failed to show that no new asset, plant or machinery was brought into existence. Section 14A disallowance of interest was deleted since own interest-free funds exceeded exempt investments and no nexus with borrowed funds was proved, though a limited disallowance for other attributable expenses was sustained. Repairs, waterproofing, overhauling and renovation were treated as revenue expenditure because no new asset emerged. Under section 115JB, the gratuity provision was not added back, the section 14A MAT adjustment was restricted correspondingly, and take-or-pay rental charges required fresh factual examination. For section 80IA(4), captive power generation was linked to the GEB purchase rate, with the exact rate remanded. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234876