https://www.taxtmi.com/caselaws?id=461801 The Rajasthan HC ruled in favor of the assessee on two key issues. First, interest receipts linked to plant and machinery setup were held to be capital receipts that reduce asset costs, not taxable income, following Bokaro Steel Ltd. precedent. The Court applied the principle that receipts inextricably connected to asset creation are capital in nature. Second, mandatory CSR expenses incurred pursuant to environmental clearance conditions were classified as revenue expenditure, not capital expenditure, making them deductible. en-us Tue, 24 Jul 2018 00:00:00 +0530 Mon, 28 Apr 2025 16:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461801 The Rajasthan HC ruled in favor of the assessee on two key issues. First, interest receipts linked to plant and machinery setup were held to be capital receipts that reduce asset costs, not taxable income, following Bokaro Steel Ltd. precedent. The Court applied the principle that receipts inextricably connected to asset creation are capital in nature. Second, mandatory CSR expenses incurred pursuant to environmental clearance conditions were classified as revenue expenditure, not capital expenditure, making them deductible. Case-Laws Income Tax Tue, 24 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461801