https://www.taxtmi.com/caselaws?id=15268 SC affirmed two key tax law principles for the assessee: (1) Interest from Electricity Board deposits should not be deducted from gross total income under Section 80-I, consistent with prior precedent. (2) Expenditure of Rs. 42,512 paid to Railways for abandoned railway siding project is a deductible revenue expense for 1972-73, as liability accrued when project was abandoned, not when amount was quantified. Court ruled in favor of assessee on both issues. en-us Wed, 25 Feb 1998 00:00:00 +0530 Thu, 08 May 2025 13:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15268 SC affirmed two key tax law principles for the assessee: (1) Interest from Electricity Board deposits should not be deducted from gross total income under Section 80-I, consistent with prior precedent. (2) Expenditure of Rs. 42,512 paid to Railways for abandoned railway siding project is a deductible revenue expense for 1972-73, as liability accrued when project was abandoned, not when amount was quantified. Court ruled in favor of assessee on both issues. Case-Laws Income Tax Wed, 25 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15268