https://www.taxtmi.com/caselaws?id=340832 The commentary explains that depreciation under section 32 may be claimed on leased wind energy generators when ownership-for-tax purposes and business use are satisfied. It also states that, for section 14A read with rule 8D, interest disallowance should not arise where an assessee has sufficient own funds, though administrative expenditure may still be disallowed. The text further notes that securitization gains accounted for on an amortised basis under RBI guidelines reflect a timing difference and should be taxed consistently with real income principles. It also treats write-off of non-convertible debentures as allowable as bad debt in the banking business, and describes rebranding and advertisement costs for a bank name change as revenue expenditure. en-us Tue, 24 Jan 2017 00:00:00 +0530 Tue, 28 Mar 2017 06:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340832 The commentary explains that depreciation under section 32 may be claimed on leased wind energy generators when ownership-for-tax purposes and business use are satisfied. It also states that, for section 14A read with rule 8D, interest disallowance should not arise where an assessee has sufficient own funds, though administrative expenditure may still be disallowed. The text further notes that securitization gains accounted for on an amortised basis under RBI guidelines reflect a timing difference and should be taxed consistently with real income principles. It also treats write-off of non-convertible debentures as allowable as bad debt in the banking business, and describes rebranding and advertisement costs for a bank name change as revenue expenditure. Case-Laws Income Tax Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340832