https://www.taxtmi.com/caselaws?id=780857 ITAT, DELHI (AT) dismissed the Revenue's appeals. Exchange fluctuation on plant and machinery was correctly capitalized under s.43A and deletion of addition upheld. Addition under s.41 for static capital creditors was deleted as the amount was already taxed in an earlier year. Expenditure on factory roof repairs was held revenue in nature and allowed. Ad hoc 10% disallowances for unexplained/service and job-work expenses were reversed for lack of specific defects and because books were audited. An insurance receipt was not treated as taxable income absent evidence of excess recovery; CIT(A)'s view sustained. en-us Mon, 22 Sep 2025 00:00:00 +0530 Wed, 05 Nov 2025 13:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780857 ITAT, DELHI (AT) dismissed the Revenue's appeals. Exchange fluctuation on plant and machinery was correctly capitalized under s.43A and deletion of addition upheld. Addition under s.41 for static capital creditors was deleted as the amount was already taxed in an earlier year. Expenditure on factory roof repairs was held revenue in nature and allowed. Ad hoc 10% disallowances for unexplained/service and job-work expenses were reversed for lack of specific defects and because books were audited. An insurance receipt was not treated as taxable income absent evidence of excess recovery; CIT(A)'s view sustained. Case-Laws Income Tax Mon, 22 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780857