https://www.taxtmi.com/caselaws?id=795707 Depreciation on intangible assets acquired through a slump sale remains allowable where the assets formed part of the block, were used in the business, and no event reduced their written-down value. Advance subscription receipts are taxable as corresponding services are rendered; amounts retained for unperformed obligations remain liabilities and cannot be taxed again on recognition. Interest on borrowings assumed with an acquired undertaking is deductible where the continuing liability remains linked to the business and was previously accepted without material change in facts or law. Related-party interest cannot be disallowed without establishing that the expenditure is excessive or unreasonable. en-us Wed, 22 Jul 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795707 Depreciation on intangible assets acquired through a slump sale remains allowable where the assets formed part of the block, were used in the business, and no event reduced their written-down value. Advance subscription receipts are taxable as corresponding services are rendered; amounts retained for unperformed obligations remain liabilities and cannot be taxed again on recognition. Interest on borrowings assumed with an acquired undertaking is deductible where the continuing liability remains linked to the business and was previously accepted without material change in facts or law. Related-party interest cannot be disallowed without establishing that the expenditure is excessive or unreasonable. Case-Laws Income Tax Wed, 22 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795707