https://www.taxtmi.com/caselaws?id=281375 Reserve fund transfers under the Gujarat Co-operative Societies Act were treated as not deductible, while education fund contributions were accepted as allowable business expenditure. A project grant for plant and machinery was not regarded as reducing the actual cost of a specific asset for depreciation, as it was given for the project as a whole and Explanation 10 to section 43(1) did not change that result on the facts. Earthquake-relief donation deduction required strict compliance with the statutory conditions governing use and transfer of unutilized amounts, and the enhanced deduction was denied where those conditions were unmet. The export indirect cost issue was sent back for fresh consideration, and interest under sections 234B and 234D was treated as consequential. en-us Mon, 22 Mar 2010 00:00:00 +0530 Mon, 17 Jun 2019 12:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281375 Reserve fund transfers under the Gujarat Co-operative Societies Act were treated as not deductible, while education fund contributions were accepted as allowable business expenditure. A project grant for plant and machinery was not regarded as reducing the actual cost of a specific asset for depreciation, as it was given for the project as a whole and Explanation 10 to section 43(1) did not change that result on the facts. Earthquake-relief donation deduction required strict compliance with the statutory conditions governing use and transfer of unutilized amounts, and the enhanced deduction was denied where those conditions were unmet. The export indirect cost issue was sent back for fresh consideration, and interest under sections 234B and 234D was treated as consequential. Case-Laws Income Tax Mon, 22 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281375