https://www.taxtmi.com/caselaws?id=376714 The tribunal dismissed the enhancement of book profit by depreciation on revalued assets under Section 115JA, upheld exclusion of power generation unit profits from book profits, confirmed deletion of disallowed interest on borrowed capital for expansion projects, classified software installation costs as revenue expenditure, and allowed deduction for scientific research expenditure. Additionally, disallowances for provident fund contributions were deleted, treatment of prior period expenses was remanded for verification, and deductions under Sections 80HHC and 14A were subject to reevaluation based on judicial precedents. Club expenses were allowed as business expenditures, and the treatment of compensation for breach of contract was referred for detailed examination. en-us Tue, 12 Mar 2019 00:00:00 +0530 Thu, 14 Mar 2019 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376714 The tribunal dismissed the enhancement of book profit by depreciation on revalued assets under Section 115JA, upheld exclusion of power generation unit profits from book profits, confirmed deletion of disallowed interest on borrowed capital for expansion projects, classified software installation costs as revenue expenditure, and allowed deduction for scientific research expenditure. Additionally, disallowances for provident fund contributions were deleted, treatment of prior period expenses was remanded for verification, and deductions under Sections 80HHC and 14A were subject to reevaluation based on judicial precedents. Club expenses were allowed as business expenditures, and the treatment of compensation for breach of contract was referred for detailed examination. Case-Laws Income Tax Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376714