https://www.taxtmi.com/caselaws?id=417457 Industrial subsidies granted to promote investment, employment and industrialisation in backward areas are capital receipts under the purpose test and do not reduce asset cost for depreciation. Other tax positions include allowing business-linked aircraft expenditure, full export-profit deduction in book-profit computation without normal-computation restrictions, coal levy relating to the relevant year subject to verification, and captive-power valuation at the electricity board's industrial-consumer rate. Depreciation may continue under the written-down-value method after a valid initial option. Forfeited share application money remains capital; hypothetical interest without real accrual is not taxable; employee-welfare facilities, aircraft lease rentals and ESOP discount may qualify as business expenditure. en-us Wed, 01 Dec 2021 00:00:00 +0530 Fri, 29 Dec 2023 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417457 Industrial subsidies granted to promote investment, employment and industrialisation in backward areas are capital receipts under the purpose test and do not reduce asset cost for depreciation. Other tax positions include allowing business-linked aircraft expenditure, full export-profit deduction in book-profit computation without normal-computation restrictions, coal levy relating to the relevant year subject to verification, and captive-power valuation at the electricity board's industrial-consumer rate. Depreciation may continue under the written-down-value method after a valid initial option. Forfeited share application money remains capital; hypothetical interest without real accrual is not taxable; employee-welfare facilities, aircraft lease rentals and ESOP discount may qualify as business expenditure. Case-Laws Income Tax Wed, 01 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417457