https://www.taxtmi.com/caselaws?id=183265 The appeal was partly allowed for statistical purposes. The Tribunal set aside the disallowance of deduction under Section 80-IB(4) related to sales-tax incentive, allowing it based on the direct nexus with manufacturing activities. The issue of assets written off was remanded back for re-adjudication, as depreciation should have been allowed if the loss was considered capital. The disallowance under Section 14A read with Rule 8D was also remanded for correct interpretation, considering only investments generating exempt income. The charging of interest under Sections 234B, 234C, and 234D was dismissed as consequential. en-us Wed, 27 Apr 2016 00:00:00 +0530 Fri, 03 Jun 2016 11:50:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183265 The appeal was partly allowed for statistical purposes. The Tribunal set aside the disallowance of deduction under Section 80-IB(4) related to sales-tax incentive, allowing it based on the direct nexus with manufacturing activities. The issue of assets written off was remanded back for re-adjudication, as depreciation should have been allowed if the loss was considered capital. The disallowance under Section 14A read with Rule 8D was also remanded for correct interpretation, considering only investments generating exempt income. The charging of interest under Sections 234B, 234C, and 234D was dismissed as consequential. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183265