https://www.taxtmi.com/caselaws?id=471487 Trial-run sale proceeds generated before commercial production and directly connected with setting up a new plant are capital receipts, adjustable against capitalised pre-operative expenditure rather than revenue income. Where own funds exceed investments capable of yielding exempt income, interest disallowance is not attracted; a voluntary administrative-expense disallowance need not be enhanced without a basis. An acquired trademark qualifies for depreciation when ownership passes under an assignment agreement and it is used, wholly or partly, despite the transferor's limited transitional licensed use to dispose of stock. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 05 Sep 2026 10:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471487 Trial-run sale proceeds generated before commercial production and directly connected with setting up a new plant are capital receipts, adjustable against capitalised pre-operative expenditure rather than revenue income. Where own funds exceed investments capable of yielding exempt income, interest disallowance is not attracted; a voluntary administrative-expense disallowance need not be enhanced without a basis. An acquired trademark qualifies for depreciation when ownership passes under an assignment agreement and it is used, wholly or partly, despite the transferor's limited transitional licensed use to dispose of stock. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471487