https://www.taxtmi.com/caselaws?id=433826 The Tribunal upheld various decisions in favor of the assessee, allowing additional depreciation claim, deduction under Section 80IA for thermal power plants, treating compensation for raw materials as revenue expenditure, classifying Industrial Promotion Assistance and Interest Subsidy as capital receipts, restricting disallowance under Section 14A, excluding subsidies/incentives from book profit, and excluding provision for sick leave written back from book profit. The Tribunal also deleted the upward adjustment for disallowance under Section 14A. The Tribunal dismissed the claim for deduction of education cess but remitted the issue of leave encashment back to the AO. Appeals by the Revenue were dismissed for AYs 2013-14 and 2014-15. en-us Tue, 07 Feb 2023 00:00:00 +0530 Fri, 10 Feb 2023 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433826 The Tribunal upheld various decisions in favor of the assessee, allowing additional depreciation claim, deduction under Section 80IA for thermal power plants, treating compensation for raw materials as revenue expenditure, classifying Industrial Promotion Assistance and Interest Subsidy as capital receipts, restricting disallowance under Section 14A, excluding subsidies/incentives from book profit, and excluding provision for sick leave written back from book profit. The Tribunal also deleted the upward adjustment for disallowance under Section 14A. The Tribunal dismissed the claim for deduction of education cess but remitted the issue of leave encashment back to the AO. Appeals by the Revenue were dismissed for AYs 2013-14 and 2014-15. Case-Laws Income Tax Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433826