https://www.taxtmi.com/caselaws?id=444429 The Tribunal upheld the disallowance of deduction claimed under section 80-IB for the Dadra unit due to the lapse of the eligibility period. It also upheld the disallowance of deduction under section 80IB/80IE for interest on staff advances and statutory/bank deposits. Expenses for doctors' gifts were disallowed under section 37(1). The Tribunal directed a re-computation of disallowance under Rule 8D. ROC & stamp duty charges were disallowed as capital expenditure. The Tribunal rejected the adjustment for amortization of intangibles under section 115JB. Deductions under sections 80IE and 80IB/80IE were upheld. Selling and distribution expenses were allowed, and depreciation on Solar Power Generating System was upheld. Refund of central excise duty was considered a capital receipt and not taxable. en-us Fri, 06 Oct 2023 00:00:00 +0530 Sat, 14 Oct 2023 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444429 The Tribunal upheld the disallowance of deduction claimed under section 80-IB for the Dadra unit due to the lapse of the eligibility period. It also upheld the disallowance of deduction under section 80IB/80IE for interest on staff advances and statutory/bank deposits. Expenses for doctors' gifts were disallowed under section 37(1). The Tribunal directed a re-computation of disallowance under Rule 8D. ROC & stamp duty charges were disallowed as capital expenditure. The Tribunal rejected the adjustment for amortization of intangibles under section 115JB. Deductions under sections 80IE and 80IB/80IE were upheld. Selling and distribution expenses were allowed, and depreciation on Solar Power Generating System was upheld. Refund of central excise duty was considered a capital receipt and not taxable. Case-Laws Income Tax Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444429