https://www.taxtmi.com/caselaws?id=461795 ITAT Kolkata allowed assessee's appeal on multiple grounds. CIT(A)'s deletion of 50% additional depreciation disallowance was upheld, following precedent that balance depreciation is allowable as unabsorbed depreciation in subsequent year. Compensation received for machinery under-performance was held as capital receipt, not revenue, being linked to capital asset procurement delay. ESI contribution delay disallowance was deleted as payments were made before return filing due date. Section 14A disallowance was deleted since assessee had sufficient interest-free funds exceeding investments. Forex derivatives loss was allowed as revenue expenditure, but forex loss on capital asset forward booking remained disallowed as capital expenditure. en-us Fri, 13 Mar 2020 00:00:00 +0530 Tue, 29 Apr 2025 18:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461795 ITAT Kolkata allowed assessee's appeal on multiple grounds. CIT(A)'s deletion of 50% additional depreciation disallowance was upheld, following precedent that balance depreciation is allowable as unabsorbed depreciation in subsequent year. Compensation received for machinery under-performance was held as capital receipt, not revenue, being linked to capital asset procurement delay. ESI contribution delay disallowance was deleted as payments were made before return filing due date. Section 14A disallowance was deleted since assessee had sufficient interest-free funds exceeding investments. Forex derivatives loss was allowed as revenue expenditure, but forex loss on capital asset forward booking remained disallowed as capital expenditure. Case-Laws Income Tax Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461795