https://www.taxtmi.com/caselaws?id=242908 The Tribunal allowed the depreciation claim on windmills, considering the transaction genuine despite initial disallowance. The set-off of losses from the rectified spirit unit was permitted based on the demerger's 'going concern' status. Disallowance of interest on loans was overturned due to sufficient interest-free funds covering the loans. The disallowance of prior period expenditure was remanded for further examination. The appeal for AY 2006-07 was fully allowed, while for AY 2007-08, it was partially allowed. en-us Fri, 22 Nov 2013 00:00:00 +0530 Thu, 23 Jan 2014 06:59:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242908 The Tribunal allowed the depreciation claim on windmills, considering the transaction genuine despite initial disallowance. The set-off of losses from the rectified spirit unit was permitted based on the demerger's 'going concern' status. Disallowance of interest on loans was overturned due to sufficient interest-free funds covering the loans. The disallowance of prior period expenditure was remanded for further examination. The appeal for AY 2006-07 was fully allowed, while for AY 2007-08, it was partially allowed. Case-Laws Income Tax Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242908