https://www.taxtmi.com/caselaws?id=389330 Rule 8D was held to be prospective and could not be applied mechanically to an assessment year prior to its introduction, so section 14A disallowance had to be made on a reasonable basis and the later year required reconsideration. Lease premium amortisation, embedded maintenance expenditure, and related maintenance recoveries were restored for fresh adjudication because their nature and tax treatment needed re-examination. Irrecoverable business deposits and advances written off in the ordinary course of business were allowed as business loss. Higher depreciation on computer software was allowed, and depreciation on VSAT network equipment was upheld. en-us Wed, 16 Oct 2019 00:00:00 +0530 Fri, 06 Dec 2019 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389330 Rule 8D was held to be prospective and could not be applied mechanically to an assessment year prior to its introduction, so section 14A disallowance had to be made on a reasonable basis and the later year required reconsideration. Lease premium amortisation, embedded maintenance expenditure, and related maintenance recoveries were restored for fresh adjudication because their nature and tax treatment needed re-examination. Irrecoverable business deposits and advances written off in the ordinary course of business were allowed as business loss. Higher depreciation on computer software was allowed, and depreciation on VSAT network equipment was upheld. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389330