https://www.taxtmi.com/caselaws?id=354375 The Court allowed the appellant-assessee's claim for depreciation on windmills, overturning the Revenue's disallowance of Rs. 38,76,000. The Court found that the amount paid to the Tamil Nadu Electricity Board was indeed spent on infrastructure development for the windmills. However, the Court upheld the disallowance of interest on investment expenditure for a new business line, as the assessee failed to prove the investment was made from its own funds and the business had not commenced operations. The appeal was partly allowed with no costs awarded. en-us Thu, 11 Jan 2018 00:00:00 +0530 Thu, 15 Nov 2018 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354375 The Court allowed the appellant-assessee's claim for depreciation on windmills, overturning the Revenue's disallowance of Rs. 38,76,000. The Court found that the amount paid to the Tamil Nadu Electricity Board was indeed spent on infrastructure development for the windmills. However, the Court upheld the disallowance of interest on investment expenditure for a new business line, as the assessee failed to prove the investment was made from its own funds and the business had not commenced operations. The appeal was partly allowed with no costs awarded. Case-Laws Income Tax Thu, 11 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354375