https://www.taxtmi.com/caselaws?id=270921 The Tribunal ruled in favor of the assessee, upholding the CIT(A)'s decision to delete the disallowance of interest expenses on loans from the Ministry of Chemical and Fertilizer for assessment years 2004-05 & 2005-06. However, the Tribunal partially allowed the Revenue's appeal for the disallowance of depreciation on the Bathinda Plant for the assessment year 2004-05, remanding the issue back to the Assessing Officer for further examination. The judgment emphasized adherence to deduction principles under section 36(1)(iii) and the need for proper examination under relevant tax assessment rules. en-us Fri, 30 Oct 2015 00:00:00 +0530 Wed, 20 Jan 2016 05:54:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270921 The Tribunal ruled in favor of the assessee, upholding the CIT(A)'s decision to delete the disallowance of interest expenses on loans from the Ministry of Chemical and Fertilizer for assessment years 2004-05 & 2005-06. However, the Tribunal partially allowed the Revenue's appeal for the disallowance of depreciation on the Bathinda Plant for the assessment year 2004-05, remanding the issue back to the Assessing Officer for further examination. The judgment emphasized adherence to deduction principles under section 36(1)(iii) and the need for proper examination under relevant tax assessment rules. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270921