https://www.taxtmi.com/caselaws?id=191935 Depreciation was allowable on the enhanced asset cost after pre-operative income, earlier netted off against project cost, was separately taxed under the VDIS route, because the capitalised cost had to be restored to its proper level. Expenditure on wellhead platforms qualified as drilling and exploration expenditure under section 42(1)(b), as the platforms formed an integral part of offshore operations. Provision for doubtful debts had to be added back in computing book profit under section 115JA, following the retrospective amendment. Depreciation attributable to the SBM unit could not be notionally reduced from the section 80IA deduction for book-profit computation. en-us Thu, 30 Jun 2011 00:00:00 +0530 Wed, 03 May 2017 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191935 Depreciation was allowable on the enhanced asset cost after pre-operative income, earlier netted off against project cost, was separately taxed under the VDIS route, because the capitalised cost had to be restored to its proper level. Expenditure on wellhead platforms qualified as drilling and exploration expenditure under section 42(1)(b), as the platforms formed an integral part of offshore operations. Provision for doubtful debts had to be added back in computing book profit under section 115JA, following the retrospective amendment. Depreciation attributable to the SBM unit could not be notionally reduced from the section 80IA deduction for book-profit computation. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191935