https://www.taxtmi.com/caselaws?id=437701 The Tribunal allowed the assessee's claim for deduction under section 80IA of the Act, disallowing depreciation on provision for 'Asset Retirement Cost' but directing re-examination as revenue expenditure. Disallowances under section 14A, interest on loans to subsidiaries, interest on 'Capital Work-in-Progress' and 'ECB,' expenditure on raising loans, roaming costs, and provision for doubtful debts were all overturned. The initiation of penalty under section 271(1)(c) was dismissed as premature, and the levy of interest under sections 234B, 234C, and 234D was upheld. The appeals for the assessment years 2006-07 and 2007-08 were partly allowed accordingly. en-us Thu, 16 Mar 2023 00:00:00 +0530 Fri, 12 May 2023 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437701 The Tribunal allowed the assessee's claim for deduction under section 80IA of the Act, disallowing depreciation on provision for 'Asset Retirement Cost' but directing re-examination as revenue expenditure. Disallowances under section 14A, interest on loans to subsidiaries, interest on 'Capital Work-in-Progress' and 'ECB,' expenditure on raising loans, roaming costs, and provision for doubtful debts were all overturned. The initiation of penalty under section 271(1)(c) was dismissed as premature, and the levy of interest under sections 234B, 234C, and 234D was upheld. The appeals for the assessment years 2006-07 and 2007-08 were partly allowed accordingly. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437701