https://www.taxtmi.com/caselaws?id=273301 The Tribunal partly allowed the assessee's appeals, remitting specific issues back to the Assessing Officer for further verification. The treatment of interest on bank deposits was to be re-examined to determine if the interest earned on short-term deposits was refunded to the Government or adjusted against future grants. The disallowance of depreciation was upheld as the assessee did not have ownership or control over the assets. Regarding the assessment of 3% of the grant for administrative expenses, the Tribunal directed verification of the grant sanctioned and received by the assessee, allowing corresponding expenditure. en-us Fri, 18 Oct 2013 00:00:00 +0530 Fri, 15 Jun 2018 12:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273301 The Tribunal partly allowed the assessee's appeals, remitting specific issues back to the Assessing Officer for further verification. The treatment of interest on bank deposits was to be re-examined to determine if the interest earned on short-term deposits was refunded to the Government or adjusted against future grants. The disallowance of depreciation was upheld as the assessee did not have ownership or control over the assets. Regarding the assessment of 3% of the grant for administrative expenses, the Tribunal directed verification of the grant sanctioned and received by the assessee, allowing corresponding expenditure. Case-Laws Income Tax Fri, 18 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273301