https://www.taxtmi.com/caselaws?id=29280 Compensation paid for delayed delivery of machinery was treated as a separate contractual receipt and did not reduce the machinery's actual cost for depreciation or development rebate. Interest on borrowings was fully deductible in business income because no direct nexus was proved between the borrowings and share investment. Dividend relief depended on the relevant assessment year: gross dividend applied for earlier years, while later years followed the amended net dividend basis after interest deduction. Expenditure on issue of rights shares was capital in nature because it related to the company's permanent capital structure and was not allowable as revenue expenditure. en-us Mon, 03 Aug 1981 00:00:00 +0530 Thu, 11 Mar 2010 18:35:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29280 Compensation paid for delayed delivery of machinery was treated as a separate contractual receipt and did not reduce the machinery's actual cost for depreciation or development rebate. Interest on borrowings was fully deductible in business income because no direct nexus was proved between the borrowings and share investment. Dividend relief depended on the relevant assessment year: gross dividend applied for earlier years, while later years followed the amended net dividend basis after interest deduction. Expenditure on issue of rights shares was capital in nature because it related to the company's permanent capital structure and was not allowable as revenue expenditure. Case-Laws Income Tax Mon, 03 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29280