https://www.taxtmi.com/caselaws?id=272247 The Tribunal upheld the CIT(A)'s decision regarding the eligibility of deduction under section 80IA(5) of the Income Tax Act, allowing the assessee's claim without setting off losses from other units. The Tribunal also reversed the disallowance of depreciation on the windmill, permitting 80% depreciation on the entire cost. However, the disallowance of foreign tour expenses was upheld due to insufficient evidence of business purpose. The addition under section 41(1) as cessation of liability was dismissed as the assessee did not press the appeal. The Revenue's appeals for the assessment years 2008-09, 2009-10, and 2010-11 were dismissed. en-us Wed, 20 Jan 2016 00:00:00 +0530 Wed, 02 Mar 2016 08:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272247 The Tribunal upheld the CIT(A)'s decision regarding the eligibility of deduction under section 80IA(5) of the Income Tax Act, allowing the assessee's claim without setting off losses from other units. The Tribunal also reversed the disallowance of depreciation on the windmill, permitting 80% depreciation on the entire cost. However, the disallowance of foreign tour expenses was upheld due to insufficient evidence of business purpose. The addition under section 41(1) as cessation of liability was dismissed as the assessee did not press the appeal. The Revenue's appeals for the assessment years 2008-09, 2009-10, and 2010-11 were dismissed. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272247