https://www.taxtmi.com/caselaws?id=184374 The Tribunal partly allowed both appeals, remanding several issues for re-examination by the Assessing Officer. The duty drawback was not taxed as the right to receive it had not accrued. The purchase of know-how was to be capitalized for depreciation. Disallowance of interest under Section 43B was set aside. Depreciation and maintenance expenses on a guest house were allowed. The claim for investment allowance on exchange rate fluctuation was dismissed but could be raised in the next assessment year. Depreciation on technical know-how was remanded for re-examination. Software development charges were treated as revenue expenditure. Entertainment expenditure was adjusted to 35%. An additional ground on investment allowance for foreign exchange fluctuation was admitted for verification. en-us Fri, 07 Oct 2005 00:00:00 +0530 Wed, 06 Jul 2016 18:20:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184374 The Tribunal partly allowed both appeals, remanding several issues for re-examination by the Assessing Officer. The duty drawback was not taxed as the right to receive it had not accrued. The purchase of know-how was to be capitalized for depreciation. Disallowance of interest under Section 43B was set aside. Depreciation and maintenance expenses on a guest house were allowed. The claim for investment allowance on exchange rate fluctuation was dismissed but could be raised in the next assessment year. Depreciation on technical know-how was remanded for re-examination. Software development charges were treated as revenue expenditure. Entertainment expenditure was adjusted to 35%. An additional ground on investment allowance for foreign exchange fluctuation was admitted for verification. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184374