https://www.taxtmi.com/caselaws?id=240057 The Tribunal allowed the assessee's appeal for the disallowance of interest paid to Citi Corp, citing a favorable judgment. The Tribunal remanded the issue of project expenses written off back to the CIT(A) for further examination. It upheld the full depreciation claim on Wind Turbine Generating Sets and depreciation on machinery purchased and leased back. The Tribunal allowed deferred revenue expenses and deleted the allocation of expenses to Export Oriented Units. It also permitted the deduction under section 43B and reduced administrative expenses from dividend income. The Tribunal deleted the addition of capital gains and allowed the deduction for loan arrangement fees and interest on borrowings for acquiring uninstalled plant & machinery. en-us Fri, 31 May 2013 00:00:00 +0530 Mon, 21 Mar 2016 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240057 The Tribunal allowed the assessee's appeal for the disallowance of interest paid to Citi Corp, citing a favorable judgment. The Tribunal remanded the issue of project expenses written off back to the CIT(A) for further examination. It upheld the full depreciation claim on Wind Turbine Generating Sets and depreciation on machinery purchased and leased back. The Tribunal allowed deferred revenue expenses and deleted the allocation of expenses to Export Oriented Units. It also permitted the deduction under section 43B and reduced administrative expenses from dividend income. The Tribunal deleted the addition of capital gains and allowed the deduction for loan arrangement fees and interest on borrowings for acquiring uninstalled plant & machinery. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240057