https://www.taxtmi.com/caselaws?id=456400 The ITAT Jodhpur decided multiple issues in favor of the assessee, a PSU. Staff welfare expenses under section 40A(9) were allowed as genuine business expenditure, supported by statutory compliance and consistent allowance in previous years. Publicity expenses for earthquake relief were permitted as corporate social responsibility under section 37(1). Depreciation on retired assets was allowed based on previous business use. Technical feasibility and consultancy expenses for dam height increase were treated as revenue expenditure. However, matters regarding depreciation on APGPCL shares and stock valuation were remanded to AO for fresh determination with proper methodology and evidence. en-us Mon, 10 Apr 2017 00:00:00 +0530 Tue, 23 Jul 2024 20:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456400 The ITAT Jodhpur decided multiple issues in favor of the assessee, a PSU. Staff welfare expenses under section 40A(9) were allowed as genuine business expenditure, supported by statutory compliance and consistent allowance in previous years. Publicity expenses for earthquake relief were permitted as corporate social responsibility under section 37(1). Depreciation on retired assets was allowed based on previous business use. Technical feasibility and consultancy expenses for dam height increase were treated as revenue expenditure. However, matters regarding depreciation on APGPCL shares and stock valuation were remanded to AO for fresh determination with proper methodology and evidence. Case-Laws Income Tax Mon, 10 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456400