https://www.taxtmi.com/caselaws?id=352951 The appeal regarding interest on purchase tax was dismissed, confirming that such interest is deductible only upon actual payment under section 43B of the Income Tax Act. However, the appeal concerning depreciation on the co-generation plant was allowed. The tribunal directed the assessing officer to grant higher depreciation on specific components integral to the co-generation system and treat the sub-station tower line expenditure as revenue expenditure. The final judgment partially allowed the assessee's appeal with specific instructions to the assessing officer, pronounced on 20th December 2017. en-us Wed, 20 Dec 2017 00:00:00 +0530 Mon, 25 Dec 2017 08:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352951 The appeal regarding interest on purchase tax was dismissed, confirming that such interest is deductible only upon actual payment under section 43B of the Income Tax Act. However, the appeal concerning depreciation on the co-generation plant was allowed. The tribunal directed the assessing officer to grant higher depreciation on specific components integral to the co-generation system and treat the sub-station tower line expenditure as revenue expenditure. The final judgment partially allowed the assessee's appeal with specific instructions to the assessing officer, pronounced on 20th December 2017. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352951