https://www.taxtmi.com/caselaws?id=305178 The High Court upheld the Tribunal's decisions on various issues related to the Income Tax Act. It ruled that furnishing a bank guarantee does not constitute actual payment for claiming deductions under Section 43B. The court allowed the deduction for research and development expenses as the assets were used in other business activities. Depreciation on research assets related to a closed business was permitted as they were still operational. The court also determined that bottling fees were not classified as fees for tax purposes under Section 43B. The appeal was dismissed, affirming the Tribunal's decisions. en-us Fri, 10 Oct 2003 00:00:00 +0530 Mon, 21 Nov 2022 17:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305178 The High Court upheld the Tribunal's decisions on various issues related to the Income Tax Act. It ruled that furnishing a bank guarantee does not constitute actual payment for claiming deductions under Section 43B. The court allowed the deduction for research and development expenses as the assets were used in other business activities. Depreciation on research assets related to a closed business was permitted as they were still operational. The court also determined that bottling fees were not classified as fees for tax purposes under Section 43B. The appeal was dismissed, affirming the Tribunal's decisions. Case-Laws Income Tax Fri, 10 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305178