https://www.taxtmi.com/caselaws?id=416572 Depreciation on assets received through demerger was not denied merely because the transfer was treated as cost-free; the assets were taken at written down value with corresponding liabilities, so the actual cost had to be recognised for depreciation purposes, and the disallowance was rejected. Disputed capacity charges, deemed generation charges and capacity index incentive were not taxed in the year under appeal because the receivable remained uncrystallised and unquantified when the accounts were drawn, and only real income can be brought to tax; the later settlement and taxation on receipt supported exclusion from that year. en-us Fri, 24 Dec 2021 00:00:00 +0530 Thu, 05 May 2022 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416572 Depreciation on assets received through demerger was not denied merely because the transfer was treated as cost-free; the assets were taken at written down value with corresponding liabilities, so the actual cost had to be recognised for depreciation purposes, and the disallowance was rejected. Disputed capacity charges, deemed generation charges and capacity index incentive were not taxed in the year under appeal because the receivable remained uncrystallised and unquantified when the accounts were drawn, and only real income can be brought to tax; the later settlement and taxation on receipt supported exclusion from that year. Case-Laws Income Tax Fri, 24 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416572