https://www.taxtmi.com/caselaws?id=471019 Business-use equipment installed at leased or rented premises qualifies as plant and machinery eligible for depreciation at 15%, rather than furniture and fixtures. For exempt-income expenditure, sufficient own funds support a presumption that investments were interest-free funded, and the Rule 8D computation should include only investments yielding exempt dividend income; foreign investments producing taxable dividends and non-yielding investments are excluded. Conversion costs and purchased spare parts reflected in closing stock are actual allowable costs, not contingent provisions. Residential flats substantiated as business guest houses qualify for depreciation at 10%. Repair and maintenance expenditure remains disallowable to the extent attributable to capital assets or unsupported capital components. en-us Wed, 28 Nov 2018 00:00:00 +0530 Tue, 18 Aug 2026 16:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471019 Business-use equipment installed at leased or rented premises qualifies as plant and machinery eligible for depreciation at 15%, rather than furniture and fixtures. For exempt-income expenditure, sufficient own funds support a presumption that investments were interest-free funded, and the Rule 8D computation should include only investments yielding exempt dividend income; foreign investments producing taxable dividends and non-yielding investments are excluded. Conversion costs and purchased spare parts reflected in closing stock are actual allowable costs, not contingent provisions. Residential flats substantiated as business guest houses qualify for depreciation at 10%. Repair and maintenance expenditure remains disallowable to the extent attributable to capital assets or unsupported capital components. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471019