https://www.taxtmi.com/caselaws?id=389652 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal as devoid of merits. The assessing officer's actions were deemed not illegal under section 147 of the Income Tax Act, and the compensation paid to lenders for de-rating was considered a capital expenditure, not eligible for deduction under relevant sections. The appeal was dismissed, with all connected miscellaneous cases also being dismissed accordingly. en-us Wed, 04 Dec 2019 00:00:00 +0530 Fri, 13 Dec 2019 14:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389652 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal as devoid of merits. The assessing officer's actions were deemed not illegal under section 147 of the Income Tax Act, and the compensation paid to lenders for de-rating was considered a capital expenditure, not eligible for deduction under relevant sections. The appeal was dismissed, with all connected miscellaneous cases also being dismissed accordingly. Case-Laws Income Tax Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389652