https://www.taxtmi.com/caselaws?id=175872 The depreciation claim on a windmill was disallowed due to lack of ownership evidence, with the Tribunal upholding the decision. Repair and service charges were partially disallowed, with only the real income being taxed. Disallowance of interest expenses was upheld by the Tribunal. Disallowance under section 40A(3) was dismissed. The disallowance of interest was deleted due to sufficient interest-free funds. Disallowance under section 14A was also deleted. The sale of windmills was not taxed as capital gain since the assessee did not own them. Both the assessee and Revenue appeals were partially allowed. en-us Fri, 23 Oct 2009 00:00:00 +0530 Tue, 08 Dec 2015 09:40:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175872 The depreciation claim on a windmill was disallowed due to lack of ownership evidence, with the Tribunal upholding the decision. Repair and service charges were partially disallowed, with only the real income being taxed. Disallowance of interest expenses was upheld by the Tribunal. Disallowance under section 40A(3) was dismissed. The disallowance of interest was deleted due to sufficient interest-free funds. Disallowance under section 14A was also deleted. The sale of windmills was not taxed as capital gain since the assessee did not own them. Both the assessee and Revenue appeals were partially allowed. Case-Laws Income Tax Fri, 23 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175872