https://www.taxtmi.com/caselaws?id=240092 Where borrowed funds are not shown to have a direct nexus with advances to group companies, and sufficient interest-free funds exist, interest disallowance is not warranted. Licence fee calculated on revenue-sharing basis was treated as recurring business expenditure and allowed as revenue deduction, not capital amortisation. Computer peripherals were held to form part of the computer system, so the higher depreciation rate for computers applied. An amalgamation-related write-off could not be added back to book profit under section 115JB because audited accounts can be adjusted only through express statutory additions. en-us Fri, 01 Feb 2013 00:00:00 +0530 Mon, 11 Nov 2013 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240092 Where borrowed funds are not shown to have a direct nexus with advances to group companies, and sufficient interest-free funds exist, interest disallowance is not warranted. Licence fee calculated on revenue-sharing basis was treated as recurring business expenditure and allowed as revenue deduction, not capital amortisation. Computer peripherals were held to form part of the computer system, so the higher depreciation rate for computers applied. An amalgamation-related write-off could not be added back to book profit under section 115JB because audited accounts can be adjusted only through express statutory additions. Case-Laws Income Tax Fri, 01 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240092