https://www.taxtmi.com/caselaws?id=799590 Depreciation attributable to capital grants, subsidies and consumer contributions requires asset-wise apportionment under Explanation 10 to section 43(1), using each asset's applicable depreciation rate rather than a uniform rate. Borrowing costs for capital work-in-progress remain capitalised on the actual project-specific basis where the accounts show no changed method. Advance financial assistance for installing solar home-light systems is revenue in nature because it supports implementation for beneficiaries rather than the recipient's own capital activity. Interest on staff loans and business-connected miscellaneous receipts are business income, whereas residual non-business receipts are income from other sources. Book-profit adjustments for grants and advances require identification and application of the relevant clause in Explanation 1 to section 115JB(2). en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 24 Sep 2026 08:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799590 Depreciation attributable to capital grants, subsidies and consumer contributions requires asset-wise apportionment under Explanation 10 to section 43(1), using each asset's applicable depreciation rate rather than a uniform rate. Borrowing costs for capital work-in-progress remain capitalised on the actual project-specific basis where the accounts show no changed method. Advance financial assistance for installing solar home-light systems is revenue in nature because it supports implementation for beneficiaries rather than the recipient's own capital activity. Interest on staff loans and business-connected miscellaneous receipts are business income, whereas residual non-business receipts are income from other sources. Book-profit adjustments for grants and advances require identification and application of the relevant clause in Explanation 1 to section 115JB(2). Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799590