https://www.taxtmi.com/caselaws?id=366403 The Tribunal allowed the additional ground of appeal regarding prior period expenditure, disallowing interest paid on borrowings related to tax-free bonds, payments made to various clubs, and taxability of interest received on income tax refunds. It dismissed claims related to oil bonds and a change in accounting method for project overheads. The Tribunal upheld the allowance of foreign currency loss, disallowance of royalty and cess paid, and disallowance of certain expenses as capital in nature. The disallowance of prior period expenses was remanded for further consideration, while the deduction under section 80-IA for power generation undertaking was allowed. en-us Fri, 17 Aug 2018 00:00:00 +0530 Tue, 04 Sep 2018 07:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366403 The Tribunal allowed the additional ground of appeal regarding prior period expenditure, disallowing interest paid on borrowings related to tax-free bonds, payments made to various clubs, and taxability of interest received on income tax refunds. It dismissed claims related to oil bonds and a change in accounting method for project overheads. The Tribunal upheld the allowance of foreign currency loss, disallowance of royalty and cess paid, and disallowance of certain expenses as capital in nature. The disallowance of prior period expenses was remanded for further consideration, while the deduction under section 80-IA for power generation undertaking was allowed. Case-Laws Income Tax Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366403