https://www.taxtmi.com/caselaws?id=783438 ITAT Ahmedabad-AT allowed the assessee's appeals substantially. It upheld eligibility for deduction u/s 80IB(9) by treating each oil well as a separate undertaking, following earlier years and the jurisdictional HC ruling rejecting retrospective application of the Explanation. Depreciation on goodwill u/s 32 and higher depreciation at 60% on oil wells and oil field assets were directed to be allowed, as was additional depreciation u/s 32(1)(iia), maintaining consistency with prior years and SC confirmation. Weighted deduction u/s 35(1)(ii) for payment to a non-approved research trust was rightly disallowed. ALP adjustment on HO expense allocation under the Production Sharing Contract was deleted. AO was directed to verify and grant MAT credit and full TDS credit, and to re-examine and allow deduction u/s 42 in accordance with DRP directions. en-us Fri, 12 Dec 2025 00:00:00 +0530 Tue, 16 Dec 2025 08:19:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783438 ITAT Ahmedabad-AT allowed the assessee's appeals substantially. It upheld eligibility for deduction u/s 80IB(9) by treating each oil well as a separate undertaking, following earlier years and the jurisdictional HC ruling rejecting retrospective application of the Explanation. Depreciation on goodwill u/s 32 and higher depreciation at 60% on oil wells and oil field assets were directed to be allowed, as was additional depreciation u/s 32(1)(iia), maintaining consistency with prior years and SC confirmation. Weighted deduction u/s 35(1)(ii) for payment to a non-approved research trust was rightly disallowed. ALP adjustment on HO expense allocation under the Production Sharing Contract was deleted. AO was directed to verify and grant MAT credit and full TDS credit, and to re-examine and allow deduction u/s 42 in accordance with DRP directions. Case-Laws Income Tax Fri, 12 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783438