https://www.taxtmi.com/caselaws?id=470984 Business-deduction and industrial-profit computation principles cover accrued leave travel concession liabilities, allocation of common expenditure, and inclusion of subsidy and upstream discounts linked directly to petroleum marketing profits for section 80-IB purposes. Construction-linked interest, recoveries and tender receipts may reduce capital work-in-progress where inextricably connected with project implementation. Exploration costs under a production sharing contract, qualifying additional depreciation, business losses on under-recovery compensation bonds, employee-welfare and club expenditure, enabling-facility costs, trading write-offs, and bona fide foreign-exchange and commodity hedges are addressed as allowable business items. Exempt-income disallowance excludes interest where own funds exceed investments, while administrative expenditure may remain disallowable. Leave-encashment requires fresh factual verification. en-us Wed, 22 May 2024 00:00:00 +0530 Mon, 17 Aug 2026 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470984 Business-deduction and industrial-profit computation principles cover accrued leave travel concession liabilities, allocation of common expenditure, and inclusion of subsidy and upstream discounts linked directly to petroleum marketing profits for section 80-IB purposes. Construction-linked interest, recoveries and tender receipts may reduce capital work-in-progress where inextricably connected with project implementation. Exploration costs under a production sharing contract, qualifying additional depreciation, business losses on under-recovery compensation bonds, employee-welfare and club expenditure, enabling-facility costs, trading write-offs, and bona fide foreign-exchange and commodity hedges are addressed as allowable business items. Exempt-income disallowance excludes interest where own funds exceed investments, while administrative expenditure may remain disallowable. Leave-encashment requires fresh factual verification. Case-Laws Income Tax Wed, 22 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470984