https://www.taxtmi.com/caselaws?id=243925 The High Court remitted the issue of foreign exchange gains from forward contracts back to the Assessing Officer for further examination. It restored the Assessing Officer's decision to allow 10% depreciation on temporary parking sheds. The Court upheld the Tribunal's decision on the allowability of R&D expenditure under Section 35(1)(iv) and confirmed that the expenditure on replacement of dies and moulds should be treated as revenue expenditure under Section 31. Additionally, the Court upheld the Tribunal's decision to allow the deduction of entry tax paid under Section 43B. en-us Thu, 09 Jan 2014 00:00:00 +0530 Sat, 21 Feb 2015 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243925 The High Court remitted the issue of foreign exchange gains from forward contracts back to the Assessing Officer for further examination. It restored the Assessing Officer's decision to allow 10% depreciation on temporary parking sheds. The Court upheld the Tribunal's decision on the allowability of R&D expenditure under Section 35(1)(iv) and confirmed that the expenditure on replacement of dies and moulds should be treated as revenue expenditure under Section 31. Additionally, the Court upheld the Tribunal's decision to allow the deduction of entry tax paid under Section 43B. Case-Laws Income Tax Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243925