https://www.taxtmi.com/caselaws?id=165346 Lease equalization charges debited to the profit and loss account could not be added back to book profit under section 115JB because they were not a reserve or appropriation of profits, so the adjustment was deleted. The disallowance of lease equalization charges under the normal provisions was remitted for fresh verification of the lease nature and supporting records. Bond issue expenses were held allowable as revenue expenditure since fund-raising for business deployment did not make the cost capital, so the disallowance was deleted. Depreciation on office premises purchased from NBCC was allowed because possession and business use were established, and pending transfer formalities did not defeat the claim. en-us Mon, 31 Jan 2011 00:00:00 +0530 Tue, 01 Jul 2014 17:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165346 Lease equalization charges debited to the profit and loss account could not be added back to book profit under section 115JB because they were not a reserve or appropriation of profits, so the adjustment was deleted. The disallowance of lease equalization charges under the normal provisions was remitted for fresh verification of the lease nature and supporting records. Bond issue expenses were held allowable as revenue expenditure since fund-raising for business deployment did not make the cost capital, so the disallowance was deleted. Depreciation on office premises purchased from NBCC was allowed because possession and business use were established, and pending transfer formalities did not defeat the claim. Case-Laws Income Tax Mon, 31 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165346