https://www.taxtmi.com/caselaws?id=289467 Guest house expenditure and related depreciation were treated as not allowable, while interest credited to the suspense account required verification and unrealised interest on doubtful advances was remitted for fresh consideration. Scientific research fund contributions were denied where funded from prior-year surplus, and apportionment under section 14A was applied on exempt interest income subject to factual verification, while deduction under section 80M on gross dividend was allowed. Depreciation on leased assets was rejected because the arrangement was characterised as a finance lease, and the claim for bad and doubtful debts beyond the statutory ceiling was disallowed. Contribution to the retired employees medical fund was allowed, certain additional grounds were remanded, and loss on revaluation of permanent category investments was held deductible, though depreciation on matured securities was denied. en-us Fri, 29 Apr 2016 00:00:00 +0530 Sat, 01 Aug 2020 10:20:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289467 Guest house expenditure and related depreciation were treated as not allowable, while interest credited to the suspense account required verification and unrealised interest on doubtful advances was remitted for fresh consideration. Scientific research fund contributions were denied where funded from prior-year surplus, and apportionment under section 14A was applied on exempt interest income subject to factual verification, while deduction under section 80M on gross dividend was allowed. Depreciation on leased assets was rejected because the arrangement was characterised as a finance lease, and the claim for bad and doubtful debts beyond the statutory ceiling was disallowed. Contribution to the retired employees medical fund was allowed, certain additional grounds were remanded, and loss on revaluation of permanent category investments was held deductible, though depreciation on matured securities was denied. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289467