https://www.taxtmi.com/caselaws?id=296280 The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeals and cross-objections, except for one partially allowed appeal. The decision emphasized the necessity of repairs and maintenance for the effluent treatment plant, the correct treatment of provisions under the mercantile system of accounting, and the non-applicability of certain provisions to assets acquired before specific dates. The penalty under Section 271(1)(c) was deleted following the favorable ruling on the capital subsidy issue. en-us Fri, 04 Feb 2011 00:00:00 +0530 Tue, 13 Jul 2021 11:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296280 The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeals and cross-objections, except for one partially allowed appeal. The decision emphasized the necessity of repairs and maintenance for the effluent treatment plant, the correct treatment of provisions under the mercantile system of accounting, and the non-applicability of certain provisions to assets acquired before specific dates. The penalty under Section 271(1)(c) was deleted following the favorable ruling on the capital subsidy issue. Case-Laws Income Tax Fri, 04 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296280