https://www.taxtmi.com/caselaws?id=352865 ITAT (Mumbai) allowed the assessee's deduction under s.80IA(4) for construction and operation of rail sidings, finding the works constituted an infrastructure facility eligible for the tax holiday and directing the AO to grant the claimed deduction. The Tribunal held the sales-tax benefit to be capital in nature, not taxable as revenue. On s.14A issues, the matter was remitted to the AO to verify cash surplus against investments; no interest disallowance if surplus exceeds tax-free investments. Disallowance of non-interest expenses under Rule 8D(2)(iii) was restricted to amounts offered by the assessee (Rs. 55,40,932 and Rs. 64,30,155 as noted). en-us Wed, 05 Apr 2017 00:00:00 +0530 Tue, 02 Sep 2025 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352865 ITAT (Mumbai) allowed the assessee's deduction under s.80IA(4) for construction and operation of rail sidings, finding the works constituted an infrastructure facility eligible for the tax holiday and directing the AO to grant the claimed deduction. The Tribunal held the sales-tax benefit to be capital in nature, not taxable as revenue. On s.14A issues, the matter was remitted to the AO to verify cash surplus against investments; no interest disallowance if surplus exceeds tax-free investments. Disallowance of non-interest expenses under Rule 8D(2)(iii) was restricted to amounts offered by the assessee (Rs. 55,40,932 and Rs. 64,30,155 as noted). Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352865