https://www.taxtmi.com/caselaws?id=774301 Grants paid to an educational society to meet employee-school and college deficits were treated as business expenditure and not as a contribution to a fund or society under section 40A(9), while interest deposited with the court towards land compensation was not subjected to disallowance under section 40(a)(ia) in the stated circumstances. Mine development work-in-progress written off on abandonment was allowed as revenue expenditure because no enduring asset came into existence. Depreciation on mine-related civil works was upheld at 15% on the functional basis as plant and machinery. By contrast, investment allowance under section 32AC was denied to a power generation company because the provision was confined to manufacture or production of an article or thing. en-us Thu, 12 Jun 2025 00:00:00 +0530 Fri, 11 Jul 2025 12:02:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774301 Grants paid to an educational society to meet employee-school and college deficits were treated as business expenditure and not as a contribution to a fund or society under section 40A(9), while interest deposited with the court towards land compensation was not subjected to disallowance under section 40(a)(ia) in the stated circumstances. Mine development work-in-progress written off on abandonment was allowed as revenue expenditure because no enduring asset came into existence. Depreciation on mine-related civil works was upheld at 15% on the functional basis as plant and machinery. By contrast, investment allowance under section 32AC was denied to a power generation company because the provision was confined to manufacture or production of an article or thing. Case-Laws Income Tax Thu, 12 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774301