https://www.taxtmi.com/caselaws?id=295600 BOT infrastructure project expenditure that does not create ownership of a capital asset in the assessee's hands was treated as allowable by amortization over the concession period as revenue expenditure; the Tribunal noted that balance-sheet classification did not determine tax character, and the claim was accepted because amortization, not depreciation, had been sought. Interest earned on deposits was assessed as income from other sources, and the assessee was not permitted to net that interest against interest paid for reduction of business income. The analysis therefore supports amortization of eligible BOT project cost while denying set-off of deposit interest against borrowing cost absent a business-head nexus. en-us Wed, 08 Jun 2011 00:00:00 +0530 Thu, 10 Jun 2021 16:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295600 BOT infrastructure project expenditure that does not create ownership of a capital asset in the assessee's hands was treated as allowable by amortization over the concession period as revenue expenditure; the Tribunal noted that balance-sheet classification did not determine tax character, and the claim was accepted because amortization, not depreciation, had been sought. Interest earned on deposits was assessed as income from other sources, and the assessee was not permitted to net that interest against interest paid for reduction of business income. The analysis therefore supports amortization of eligible BOT project cost while denying set-off of deposit interest against borrowing cost absent a business-head nexus. Case-Laws Income Tax Wed, 08 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295600