https://www.taxtmi.com/caselaws?id=238678 The Tribunal ruled in favor of the assessee, determining that the compensation received from The Coca Cola Co. was a capital receipt not subject to tax. Professional fees were allowed as business expenditure, and higher depreciation on vehicles for hire was upheld. Issues regarding deposits on bottles and crates, prior period expenses were sent for verification. The Tribunal rejected Revenue's appeals on excess raw material consumption, interest disallowance, and unutilized MODVAT credit. Sale proceeds of bottles and crates were deemed part of the block of assets for depreciation purposes. en-us Fri, 20 Sep 2013 00:00:00 +0530 Thu, 07 Sep 2017 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238678 The Tribunal ruled in favor of the assessee, determining that the compensation received from The Coca Cola Co. was a capital receipt not subject to tax. Professional fees were allowed as business expenditure, and higher depreciation on vehicles for hire was upheld. Issues regarding deposits on bottles and crates, prior period expenses were sent for verification. The Tribunal rejected Revenue's appeals on excess raw material consumption, interest disallowance, and unutilized MODVAT credit. Sale proceeds of bottles and crates were deemed part of the block of assets for depreciation purposes. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238678