https://www.taxtmi.com/caselaws?id=751010 ITAT Rajkot allowed the assessee's appeal regarding deduction under section 80IA(4)(i) for MDI and EDA storage tanks, following SC and HC precedents that specialized chemical storage facilities qualify as eligible enterprises. The tribunal upheld CIT(A)'s decisions allowing amortization of share issue expenses under section 35D and deleting disallowances under section 14A, following coordinate bench rulings in assessee's own case. Higher depreciation on windmill installations was allowed per Gujarat HC precedent. However, addition under section 41(1)(a) for cessation of liabilities was confirmed against the assessee due to inadequate explanation for long-outstanding amounts. en-us Thu, 28 Mar 2024 00:00:00 +0530 Thu, 04 Apr 2024 20:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751010 ITAT Rajkot allowed the assessee's appeal regarding deduction under section 80IA(4)(i) for MDI and EDA storage tanks, following SC and HC precedents that specialized chemical storage facilities qualify as eligible enterprises. The tribunal upheld CIT(A)'s decisions allowing amortization of share issue expenses under section 35D and deleting disallowances under section 14A, following coordinate bench rulings in assessee's own case. Higher depreciation on windmill installations was allowed per Gujarat HC precedent. However, addition under section 41(1)(a) for cessation of liabilities was confirmed against the assessee due to inadequate explanation for long-outstanding amounts. Case-Laws Income Tax Thu, 28 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751010