https://www.taxtmi.com/caselaws?id=178384 The Tribunal allowed the deduction of pre-operative interest and expenses related to a seamless tube project, considering the steel and tube activities as the "same business." Expenditure on high tension lines was allowed as revenue expenditure since ownership lay with Electricity authorities. The Tribunal permitted the amortization claim of technical know-how fees, including exchange fluctuation, as part of actual cost, contrary to the CIT(A)'s interpretation. The decision clarified the treatment of expenses and technical fees under the Income-tax Act, emphasizing unity of business activities for deduction eligibility. en-us Fri, 14 Mar 1997 00:00:00 +0530 Wed, 03 Feb 2016 16:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178384 The Tribunal allowed the deduction of pre-operative interest and expenses related to a seamless tube project, considering the steel and tube activities as the "same business." Expenditure on high tension lines was allowed as revenue expenditure since ownership lay with Electricity authorities. The Tribunal permitted the amortization claim of technical know-how fees, including exchange fluctuation, as part of actual cost, contrary to the CIT(A)'s interpretation. The decision clarified the treatment of expenses and technical fees under the Income-tax Act, emphasizing unity of business activities for deduction eligibility. Case-Laws Income Tax Fri, 14 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178384