https://www.taxtmi.com/caselaws?id=197310 The ITAT partially allowed the appeal, directing the AO to reduce the asset cost by the waived loan amount for depreciation purposes. It also instructed the AO to allow the cost of removing overburden as revenue expenditure in the year incurred, and to consider the liability under the Employees Benefit Scheme annually. Additionally, the ITAT ruled in favor of the assessee regarding the disallowance of PF dues and bond issue expenses, allowing them as claimed. The ITAT also directed the AO to allow the full interest payable to KFW Germany and to reassess the depreciation on mining rights based on their acquisition date and potential classification as intangible assets or revenue expenditure. en-us Fri, 23 Jul 2010 00:00:00 +0530 Tue, 02 Jan 2018 16:14:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197310 The ITAT partially allowed the appeal, directing the AO to reduce the asset cost by the waived loan amount for depreciation purposes. It also instructed the AO to allow the cost of removing overburden as revenue expenditure in the year incurred, and to consider the liability under the Employees Benefit Scheme annually. Additionally, the ITAT ruled in favor of the assessee regarding the disallowance of PF dues and bond issue expenses, allowing them as claimed. The ITAT also directed the AO to allow the full interest payable to KFW Germany and to reassess the depreciation on mining rights based on their acquisition date and potential classification as intangible assets or revenue expenditure. Case-Laws Income Tax Fri, 23 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197310