https://www.taxtmi.com/caselaws?id=259776 The Tribunal allowed the balance 50% additional depreciation under Section 32(1)(ii) for new plant and machinery, directing the AO to permit the claim following precedent. Regarding estimated disallowance under Section 14A, the Tribunal remitted the issue for re-verification to establish the nexus between investments and loans. Industrial Investment Promotion Assistance was treated as a capital receipt, but the reduction from fixed assets cost was disallowed. The exemption of Entry Tax was considered a revenue receipt. The provision for leave encashment disallowance issue was remitted back to the AO pending a Supreme Court decision. The appeals of the revenue were dismissed, and the appeals of the assessee were partly allowed. en-us Fri, 27 Feb 2015 00:00:00 +0530 Thu, 07 May 2015 19:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259776 The Tribunal allowed the balance 50% additional depreciation under Section 32(1)(ii) for new plant and machinery, directing the AO to permit the claim following precedent. Regarding estimated disallowance under Section 14A, the Tribunal remitted the issue for re-verification to establish the nexus between investments and loans. Industrial Investment Promotion Assistance was treated as a capital receipt, but the reduction from fixed assets cost was disallowed. The exemption of Entry Tax was considered a revenue receipt. The provision for leave encashment disallowance issue was remitted back to the AO pending a Supreme Court decision. The appeals of the revenue were dismissed, and the appeals of the assessee were partly allowed. Case-Laws Income Tax Fri, 27 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259776