https://www.taxtmi.com/caselaws?id=246766 Depreciation disallowance was upheld because the issue was already covered against the assessee by binding jurisdictional High Court precedent. The deduction claim under section 80IB required fresh consideration on the set-off of interest expenses against interest income, so that issue was remanded to the appellate authority with an opportunity of hearing. The disallowance under section 14A read with Rule 8D, including its impact on book profit under section 115JB, was also restored for reconsideration in accordance with law and natural justice. The appeal was thus partly allowed, with one issue sustained and the remaining issues sent back for fresh adjudication. en-us Wed, 26 Mar 2014 00:00:00 +0530 Tue, 22 Apr 2014 05:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246766 Depreciation disallowance was upheld because the issue was already covered against the assessee by binding jurisdictional High Court precedent. The deduction claim under section 80IB required fresh consideration on the set-off of interest expenses against interest income, so that issue was remanded to the appellate authority with an opportunity of hearing. The disallowance under section 14A read with Rule 8D, including its impact on book profit under section 115JB, was also restored for reconsideration in accordance with law and natural justice. The appeal was thus partly allowed, with one issue sustained and the remaining issues sent back for fresh adjudication. Case-Laws Income Tax Wed, 26 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246766