https://www.taxtmi.com/caselaws?id=763803 ITAT Delhi ruled in favor of the assessee on multiple issues. The tribunal held that court-sanctioned demerger and merger schemes are binding on tax authorities, allowing depreciation claims on passive infrastructure assets transferred through the scheme. The tribunal permitted deduction of capital work-in-progress written off as business loss when projects were abandoned. Provisions for site restoration obligations, service level adjustments, and other expenses were deemed ascertained liabilities eligible for deduction under normal provisions and section 115JB. Interest disallowance under section 36(1)(iii) was deleted, and enhanced depreciation at 80% was granted for energy-saving devices. Revenue's appeals on salary capitalization and various expense disallowances were dismissed. en-us Tue, 10 Dec 2024 00:00:00 +0530 Fri, 27 Dec 2024 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763803 ITAT Delhi ruled in favor of the assessee on multiple issues. The tribunal held that court-sanctioned demerger and merger schemes are binding on tax authorities, allowing depreciation claims on passive infrastructure assets transferred through the scheme. The tribunal permitted deduction of capital work-in-progress written off as business loss when projects were abandoned. Provisions for site restoration obligations, service level adjustments, and other expenses were deemed ascertained liabilities eligible for deduction under normal provisions and section 115JB. Interest disallowance under section 36(1)(iii) was deleted, and enhanced depreciation at 80% was granted for energy-saving devices. Revenue's appeals on salary capitalization and various expense disallowances were dismissed. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763803