https://www.taxtmi.com/caselaws?id=750698 The article discusses ITAT Kolkata's treatment of several tax issues, including valuation of captive power transfers for transfer pricing and section 80IA purposes, allowance of balance additional depreciation in the following year, and the revenue character of compensation paid to obtain limestone. It also states that industrial promotion assistance and interest subsidy under State incentive schemes were treated as capital receipts under the purpose test. On section 14A read with rule 8D, the Tribunal indicated that disallowance had to be recomputed for normal income and reflected in book profit under section 115JB. The leave encashment claim was directed to be verified and allowed to the extent actually paid. en-us Tue, 16 Jan 2024 00:00:00 +0530 Wed, 27 Mar 2024 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750698 The article discusses ITAT Kolkata's treatment of several tax issues, including valuation of captive power transfers for transfer pricing and section 80IA purposes, allowance of balance additional depreciation in the following year, and the revenue character of compensation paid to obtain limestone. It also states that industrial promotion assistance and interest subsidy under State incentive schemes were treated as capital receipts under the purpose test. On section 14A read with rule 8D, the Tribunal indicated that disallowance had to be recomputed for normal income and reflected in book profit under section 115JB. The leave encashment claim was directed to be verified and allowed to the extent actually paid. Case-Laws Income Tax Tue, 16 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750698