https://www.taxtmi.com/caselaws?id=186653 The Tribunal upheld the lower authorities' decisions on most issues, treating the compensation for termination of a joint venture as a revenue receipt and supporting the scaling down of depreciation claimed. The deduction under s. 80-IA was reduced based on turnover allocation. Disallowance of interest on advances to subsidiaries was remanded for review. The disallowance of interest expenditure on investments for controlling interest was partially confirmed, with a proportionate calculation adjustment. The Tribunal stressed adherence to legal principles and precedents, remanding some matters for reconsideration in light of recent legal developments. en-us Wed, 13 Oct 2010 00:00:00 +0530 Mon, 26 Sep 2016 16:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186653 The Tribunal upheld the lower authorities' decisions on most issues, treating the compensation for termination of a joint venture as a revenue receipt and supporting the scaling down of depreciation claimed. The deduction under s. 80-IA was reduced based on turnover allocation. Disallowance of interest on advances to subsidiaries was remanded for review. The disallowance of interest expenditure on investments for controlling interest was partially confirmed, with a proportionate calculation adjustment. The Tribunal stressed adherence to legal principles and precedents, remanding some matters for reconsideration in light of recent legal developments. Case-Laws Income Tax Wed, 13 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186653