https://www.taxtmi.com/caselaws?id=470198 Depreciation on purchased and installed software was allowable where evidence established that it was acquired, developed or integrated into machinery systems as an intangible asset. Additions for alleged bogus purchases and balance differences, and disallowances of machinery repairs, were deleted on supported concurrent factual findings that raised no substantial question of law. Interest disallowance on advances was unsustainable because the advances funded raw materials and plant and machinery and sufficient own funds existed, negating diversion of interest-bearing borrowings. Loss on sale of raw materials was allowable on unrebutted supporting material. Interference under Section 260A requires demonstrated perversity or a substantial question of law. en-us Wed, 17 Apr 2013 00:00:00 +0530 Mon, 20 Jul 2026 12:07:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470198 Depreciation on purchased and installed software was allowable where evidence established that it was acquired, developed or integrated into machinery systems as an intangible asset. Additions for alleged bogus purchases and balance differences, and disallowances of machinery repairs, were deleted on supported concurrent factual findings that raised no substantial question of law. Interest disallowance on advances was unsustainable because the advances funded raw materials and plant and machinery and sufficient own funds existed, negating diversion of interest-bearing borrowings. Loss on sale of raw materials was allowable on unrebutted supporting material. Interference under Section 260A requires demonstrated perversity or a substantial question of law. Case-Laws Income Tax Wed, 17 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470198