https://www.taxtmi.com/caselaws?id=389484 The Tribunal upheld the CIT(A)'s decisions on various tax issues, including allowing depreciation adjustments for exchange losses on forward contracts, consequential depreciation on previous year's losses, increased WDV of assets post-amalgamation, classification of interest income, treatment of sales tax subsidy as capital receipt, and interest levy under retrospective amendment. The Tribunal rejected the revenue's appeals and directed the exclusion of sales tax subsidy from book profits, ruling in favor of the assessee on all grounds. en-us Fri, 29 Nov 2019 00:00:00 +0530 Mon, 03 Aug 2026 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389484 The Tribunal upheld the CIT(A)'s decisions on various tax issues, including allowing depreciation adjustments for exchange losses on forward contracts, consequential depreciation on previous year's losses, increased WDV of assets post-amalgamation, classification of interest income, treatment of sales tax subsidy as capital receipt, and interest levy under retrospective amendment. The Tribunal rejected the revenue's appeals and directed the exclusion of sales tax subsidy from book profits, ruling in favor of the assessee on all grounds. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389484