https://www.taxtmi.com/caselaws?id=788349 ITAT held that disallowance for exempt dividend income computed under the apportionment rule is restricted to investments that actually yielded exempt dividends, deleting the excess addition of Rs. 2,59,24,567. The tribunal directed recomputation of the written down value for the asset block, allowing additional depreciation of Rs. 45,21,271 on correct WDV computation under statutory depreciation rules. It further held that an accrual-based provision for mine closure made pursuant to mandatory industry guidelines qualifies as an allowable business deduction under general business expenditure principles, allowing the claimed provision of Rs. 62,91,01,252. en-us Thu, 05 Feb 2026 00:00:00 +0530 Fri, 20 Mar 2026 08:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788349 ITAT held that disallowance for exempt dividend income computed under the apportionment rule is restricted to investments that actually yielded exempt dividends, deleting the excess addition of Rs. 2,59,24,567. The tribunal directed recomputation of the written down value for the asset block, allowing additional depreciation of Rs. 45,21,271 on correct WDV computation under statutory depreciation rules. It further held that an accrual-based provision for mine closure made pursuant to mandatory industry guidelines qualifies as an allowable business deduction under general business expenditure principles, allowing the claimed provision of Rs. 62,91,01,252. Case-Laws Income Tax Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788349