https://www.taxtmi.com/caselaws?id=358280 Windmill civil construction and electrical works that are integral to installation and functioning qualify for the higher windmill depreciation rate, as the project cannot be artificially bifurcated. Under section 14A read with Rule 8D, no interest disallowance was warranted where own funds exceeded investments and no borrowed-funds nexus was shown, though the administrative expenditure component was sustained. For section 80IA, depreciation or losses of years before the initial assessment year, once absorbed against other income, cannot be notionally reintroduced in computing the deduction. Interest and miscellaneous income of the 100% export oriented unit required factual verification for nexus with the export business, so that issue was remanded. en-us Wed, 04 Apr 2018 00:00:00 +0530 Mon, 09 Apr 2018 07:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358280 Windmill civil construction and electrical works that are integral to installation and functioning qualify for the higher windmill depreciation rate, as the project cannot be artificially bifurcated. Under section 14A read with Rule 8D, no interest disallowance was warranted where own funds exceeded investments and no borrowed-funds nexus was shown, though the administrative expenditure component was sustained. For section 80IA, depreciation or losses of years before the initial assessment year, once absorbed against other income, cannot be notionally reintroduced in computing the deduction. Interest and miscellaneous income of the 100% export oriented unit required factual verification for nexus with the export business, so that issue was remanded. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358280