https://www.taxtmi.com/caselaws?id=462548 The ITAT Chennai upheld the Revenue's disallowance of reset fee deduction, ruling it must be capitalized as part of asset cost during construction period under section 36(1)(iii) proviso. For section 80HHC computation, independent incomes like testing fees were excluded from export profits, while scrap sales were treated as raw material cost reduction. Interest on delayed payments was remitted for fresh determination. The tribunal denied deduction for abandoned revamping costs as capital expenditure, noting write-off occurred post-assessment year. Depreciation on unused gas sweetening plant was denied due to complete non-user, distinguishing it from passive user cases. Several matters were remitted to CIT(A) for fresh adjudication. en-us Tue, 05 Dec 2017 00:00:00 +0530 Mon, 30 Jun 2025 20:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462548 The ITAT Chennai upheld the Revenue's disallowance of reset fee deduction, ruling it must be capitalized as part of asset cost during construction period under section 36(1)(iii) proviso. For section 80HHC computation, independent incomes like testing fees were excluded from export profits, while scrap sales were treated as raw material cost reduction. Interest on delayed payments was remitted for fresh determination. The tribunal denied deduction for abandoned revamping costs as capital expenditure, noting write-off occurred post-assessment year. Depreciation on unused gas sweetening plant was denied due to complete non-user, distinguishing it from passive user cases. Several matters were remitted to CIT(A) for fresh adjudication. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462548