https://www.taxtmi.com/caselaws?id=361918 Maintenance charges described as amenity charges were treated as a separate income issue and were remanded to the Assessing Officer for fresh adjudication, with the corresponding head of income and related deduction to be re-examined. Depreciation on firefighting and lift equipment was also sent back for reconsideration because it was linked to the same amenity-charge treatment and followed the assessee's earlier years' position. By contrast, settlement and damages paid to the joint venture counterparty were held to be capital in nature, as the payment arose from breach and cancellation of an arrangement to create a new business vehicle, so the deduction claim failed. en-us Tue, 12 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361918 Maintenance charges described as amenity charges were treated as a separate income issue and were remanded to the Assessing Officer for fresh adjudication, with the corresponding head of income and related deduction to be re-examined. Depreciation on firefighting and lift equipment was also sent back for reconsideration because it was linked to the same amenity-charge treatment and followed the assessee's earlier years' position. By contrast, settlement and damages paid to the joint venture counterparty were held to be capital in nature, as the payment arose from breach and cancellation of an arrangement to create a new business vehicle, so the deduction claim failed. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361918