https://www.taxtmi.com/caselaws?id=198647 The High Court ruled in favor of the appellant on both issues. Regarding the deduction of unpaid bottling fee under section 43B of the Income-tax Act, 1961, the Court held that the fee qualifies as an allowable revenue expenditure if accounts are maintained on a mercantile basis. Concerning the allowance of depreciation on research and development assets related to a closed business division, the Court agreed that the assets were used in operational businesses and upheld the decision to allow depreciation. The appeal was dismissed, and no costs were awarded. en-us Wed, 24 Sep 2003 00:00:00 +0530 Tue, 06 Feb 2018 18:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198647 The High Court ruled in favor of the appellant on both issues. Regarding the deduction of unpaid bottling fee under section 43B of the Income-tax Act, 1961, the Court held that the fee qualifies as an allowable revenue expenditure if accounts are maintained on a mercantile basis. Concerning the allowance of depreciation on research and development assets related to a closed business division, the Court agreed that the assets were used in operational businesses and upheld the decision to allow depreciation. The appeal was dismissed, and no costs were awarded. Case-Laws Income Tax Wed, 24 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198647