https://www.taxtmi.com/caselaws?id=365123 The Tribunal held that the subsidy received from NHAI was a capital receipt, not to be reduced from the toll road cost, directing the AO to verify its nature. Depreciation on BOT rights was allowed based on precedent, contrary to the AO's disallowance. The disallowance under Section 14A was restricted to the actual exempt income of Rs. 60,000, aligning with the assessee's claim. Both the assessee and Revenue's appeals were partially allowed in the judgment. en-us Mon, 30 Jul 2018 00:00:00 +0530 Fri, 10 Aug 2018 09:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365123 The Tribunal held that the subsidy received from NHAI was a capital receipt, not to be reduced from the toll road cost, directing the AO to verify its nature. Depreciation on BOT rights was allowed based on precedent, contrary to the AO's disallowance. The disallowance under Section 14A was restricted to the actual exempt income of Rs. 60,000, aligning with the assessee's claim. Both the assessee and Revenue's appeals were partially allowed in the judgment. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365123