https://www.taxtmi.com/caselaws?id=328877 Rule 8D applied from assessment year 2008-09, but interest disallowance under Rule 8D(2)(ii) was not sustainable where the assessee had sufficient own and interest-free funds to cover investments; the administrative disallowance under Rule 8D(2)(iii) was nevertheless upheld because substantial investments required managerial effort. Dies and moulds expenditure was treated as replacement cost in manufacturing and allowed as revenue expenditure, and product launch expenses for new vehicles were held deductible as business expenditure. Foreign agency commission paid to non-resident agents for export procurement services rendered outside India did not attract disallowance under section 40(a)(i). Loss of the 80-IC unit could not be set off against profits of other units. en-us Wed, 27 Apr 2016 00:00:00 +0530 Fri, 17 Jun 2016 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328877 Rule 8D applied from assessment year 2008-09, but interest disallowance under Rule 8D(2)(ii) was not sustainable where the assessee had sufficient own and interest-free funds to cover investments; the administrative disallowance under Rule 8D(2)(iii) was nevertheless upheld because substantial investments required managerial effort. Dies and moulds expenditure was treated as replacement cost in manufacturing and allowed as revenue expenditure, and product launch expenses for new vehicles were held deductible as business expenditure. Foreign agency commission paid to non-resident agents for export procurement services rendered outside India did not attract disallowance under section 40(a)(i). Loss of the 80-IC unit could not be set off against profits of other units. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328877