https://www.taxtmi.com/caselaws?id=57642 The ITAT upheld the Assessing Officer's treatment of the amount transferred from the profit and loss account to capital work-in-progress as revenue income, following a Supreme Court judgment. Interest receipts and hire charges were also classified as revenue receipts, not capital receipts. Income from the sale of energy during trial runs was deemed revenue income, with related expenses to be capitalized. Pension and leave salary contributions were allowed as expenses borne by the assessee. Certain assets were classified as plant and machinery for depreciation and investment allowance, as per previous decisions, resulting in a partial allowance of the departmental appeal. en-us Mon, 10 Nov 1997 00:00:00 +0530 Sat, 11 Dec 2010 12:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57642 The ITAT upheld the Assessing Officer's treatment of the amount transferred from the profit and loss account to capital work-in-progress as revenue income, following a Supreme Court judgment. Interest receipts and hire charges were also classified as revenue receipts, not capital receipts. Income from the sale of energy during trial runs was deemed revenue income, with related expenses to be capitalized. Pension and leave salary contributions were allowed as expenses borne by the assessee. Certain assets were classified as plant and machinery for depreciation and investment allowance, as per previous decisions, resulting in a partial allowance of the departmental appeal. Case-Laws Income Tax Mon, 10 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57642