https://www.taxtmi.com/caselaws?id=432148 The Tribunal allowed the appeal, permitting the deduction for amortization of leasehold land and land development expenses. It ruled that the excise duty exemption qualified as a capital receipt not taxable, aligning with precedents. The excise duty exemption was excluded from book profit calculations under Section 115JB for Minimum Alternate Tax purposes. Consequently, interest under Section 244A required re-computation based on these adjustments. en-us Mon, 19 Dec 2022 00:00:00 +0530 Wed, 28 Dec 2022 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432148 The Tribunal allowed the appeal, permitting the deduction for amortization of leasehold land and land development expenses. It ruled that the excise duty exemption qualified as a capital receipt not taxable, aligning with precedents. The excise duty exemption was excluded from book profit calculations under Section 115JB for Minimum Alternate Tax purposes. Consequently, interest under Section 244A required re-computation based on these adjustments. Case-Laws Income Tax Mon, 19 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432148