https://www.taxtmi.com/caselaws?id=286818 Real-income principles exclude subsidy initially credited at a higher rate where a later governmental reduction means the excess never finally accrued. Interest on borrowed capital used for business was deductible for the relevant period despite capital projects or book capitalisation, as the restrictive proviso did not apply. Prior-period expenses require evidence that liability crystallised during the year. Electricity duty collected as agent for the State is not the assessee's trading receipt or primary liability and does not attract section 43B. Stock losses are revenue losses, while block-asset losses are addressed through depreciation. Software and professional-fee write-offs may be revenue expenditure when they support operations rather than acquire a profit-making apparatus. en-us Wed, 30 Sep 2015 00:00:00 +0530 Tue, 17 Mar 2020 10:14:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286818 Real-income principles exclude subsidy initially credited at a higher rate where a later governmental reduction means the excess never finally accrued. Interest on borrowed capital used for business was deductible for the relevant period despite capital projects or book capitalisation, as the restrictive proviso did not apply. Prior-period expenses require evidence that liability crystallised during the year. Electricity duty collected as agent for the State is not the assessee's trading receipt or primary liability and does not attract section 43B. Stock losses are revenue losses, while block-asset losses are addressed through depreciation. Software and professional-fee write-offs may be revenue expenditure when they support operations rather than acquire a profit-making apparatus. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286818