https://www.taxtmi.com/highlights?id=102782 Employee-welfare payments to educational institutions and club expenditure were treated as business expenditure where incurred wholly and exclusively for business purposes. Enabling-facility costs were characterised as revenue expenditure because no capital asset was acquired. Receipts directly connected with setting up a plant were treated as capital receipts reducible from capital work-in-progress. Depreciation on business vehicles and temporary structures was allowed, while a challenge based on additional depreciation was treated as misconceived because the relief concerned consequential differential depreciation. Bad debts, advances and claims written off were allowable. Premium amortisation on foreign-exchange forward contracts used fo..... en-us Tue, 18 Aug 2026 09:31:23 +0530 Tue, 18 Aug 2026 09:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102782 Employee-welfare payments to educational institutions and club expenditure were treated as business expenditure where incurred wholly and exclusively for business purposes. Enabling-facility costs were characterised as revenue expenditure because no capital asset was acquired. Receipts directly connected with setting up a plant were treated as capital receipts reducible from capital work-in-progress. Depreciation on business vehicles and temporary structures was allowed, while a challenge based on additional depreciation was treated as misconceived because the relief concerned consequential differential depreciation. Bad debts, advances and claims written off were allowable. Premium amortisation on foreign-exchange forward contracts used fo..... Highlights Income Tax Tue, 18 Aug 2026 09:31:23 +0530 https://www.taxtmi.com/highlights?id=102782