https://www.taxtmi.com/caselaws?id=198247 The Tribunal upheld the disallowance of depreciation claimed on windmills due to charges for land development not being part of the windmill's machinery. Additionally, the disallowance of interest on borrowed funds for investment in a new business line was upheld as the business had not commenced operations, and interest can only be allowed for an existing business. The appeal by the assessee was dismissed on both grounds, with the order pronounced on July 18, 2014. en-us Fri, 18 Jul 2014 00:00:00 +0530 Sat, 27 Jan 2018 08:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198247 The Tribunal upheld the disallowance of depreciation claimed on windmills due to charges for land development not being part of the windmill's machinery. Additionally, the disallowance of interest on borrowed funds for investment in a new business line was upheld as the business had not commenced operations, and interest can only be allowed for an existing business. The appeal by the assessee was dismissed on both grounds, with the order pronounced on July 18, 2014. Case-Laws Income Tax Fri, 18 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198247