https://www.taxtmi.com/caselaws?id=446045 Investments funded from sufficient own funds did not justify a section 14A read with rule 8D disallowance, and the same adjustment could not be imported into book profit under section 115JB. Director's salary and handover facility expenses were treated as general business overheads, so capitalisation to work-in-progress was rejected and the s remained revenue in nature. Corporate guarantee commission was benchmarked on an interest-saving basis, with 0.3523% accepted. Depreciation on a temporary sample flat used as a site facility was allowed at 100%. Foreign exchange loss on settlement of monetary liabilities for materials was not capitalised to project cost and was allowable as revenue expenditure. en-us Wed, 08 Nov 2023 00:00:00 +0530 Fri, 24 Nov 2023 07:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446045 Investments funded from sufficient own funds did not justify a section 14A read with rule 8D disallowance, and the same adjustment could not be imported into book profit under section 115JB. Director's salary and handover facility expenses were treated as general business overheads, so capitalisation to work-in-progress was rejected and the s remained revenue in nature. Corporate guarantee commission was benchmarked on an interest-saving basis, with 0.3523% accepted. Depreciation on a temporary sample flat used as a site facility was allowed at 100%. Foreign exchange loss on settlement of monetary liabilities for materials was not capitalised to project cost and was allowable as revenue expenditure. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446045