https://www.taxtmi.com/caselaws?id=425849 The Tribunal upheld the CIT(A)'s decision to allow additional depreciation on windmills, confirming that electricity generation qualifies as manufacturing. Regarding the deletion of the addition made under Section 14A for computing book profits under Section 115JB, the Tribunal partially allowed the Revenue's appeal, directing a 1% ad-hoc disallowance of exempt income. en-us Fri, 29 Jul 2022 00:00:00 +0530 Tue, 02 Aug 2022 09:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425849 The Tribunal upheld the CIT(A)'s decision to allow additional depreciation on windmills, confirming that electricity generation qualifies as manufacturing. Regarding the deletion of the addition made under Section 14A for computing book profits under Section 115JB, the Tribunal partially allowed the Revenue's appeal, directing a 1% ad-hoc disallowance of exempt income. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425849