https://www.taxtmi.com/caselaws?id=197071 The High Court upheld the CIT(A)'s decision to treat the replacement of electricity meters as revenue expenditure, not capital, as it does not enhance electricity generation capacity. Head office expenses were not apportioned to specific units, supporting the assessee's claim. Disallowance of transmission charges for non-deduction of TDS was rejected. Foreign exchange loss was partially allowed as revenue expenditure. Section 115JB was deemed inapplicable. Disallowance under section 14A was deleted due to sufficient own funds. The disallowance under section 115JB for expenses related to exempt income was also rejected. The issue of considering investments for disallowance under section 14A was remanded for further assessment. en-us Fri, 02 Jun 2017 00:00:00 +0530 Mon, 25 Dec 2017 08:31:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197071 The High Court upheld the CIT(A)'s decision to treat the replacement of electricity meters as revenue expenditure, not capital, as it does not enhance electricity generation capacity. Head office expenses were not apportioned to specific units, supporting the assessee's claim. Disallowance of transmission charges for non-deduction of TDS was rejected. Foreign exchange loss was partially allowed as revenue expenditure. Section 115JB was deemed inapplicable. Disallowance under section 14A was deleted due to sufficient own funds. The disallowance under section 115JB for expenses related to exempt income was also rejected. The issue of considering investments for disallowance under section 14A was remanded for further assessment. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197071