https://www.taxtmi.com/caselaws?id=386294 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The waiver of the loan was not treated as taxable income as per Supreme Court precedent. Depreciation on fixed assets was allowed as evidence showed installation before the cutoff date. Interest subsidy was not taxed again to avoid double taxation, following the company's accounting policies. The judgments focused on preventing double taxation and ensuring adherence to accounting principles and legal precedents. en-us Wed, 07 Aug 2019 00:00:00 +0530 Thu, 26 Sep 2019 06:57:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386294 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The waiver of the loan was not treated as taxable income as per Supreme Court precedent. Depreciation on fixed assets was allowed as evidence showed installation before the cutoff date. Interest subsidy was not taxed again to avoid double taxation, following the company's accounting policies. The judgments focused on preventing double taxation and ensuring adherence to accounting principles and legal precedents. Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386294