https://www.taxtmi.com/caselaws?id=59116 The Tribunal upheld the disallowance of initial depreciation for the power generation unit, stating that the installation was not for the business of generation or distribution of electricity. Additionally, the Tribunal ruled that the amount received from Honeywell Inc., USA, was taxable under section 28(ii)(c) as compensation for the termination of the agency agreement, not for the transfer of goodwill. The appeal was dismissed, affirming the decisions of the lower authorities. en-us Tue, 30 Oct 1984 00:00:00 +0530 Sat, 25 Dec 2010 11:25:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59116 The Tribunal upheld the disallowance of initial depreciation for the power generation unit, stating that the installation was not for the business of generation or distribution of electricity. Additionally, the Tribunal ruled that the amount received from Honeywell Inc., USA, was taxable under section 28(ii)(c) as compensation for the termination of the agency agreement, not for the transfer of goodwill. The appeal was dismissed, affirming the decisions of the lower authorities. Case-Laws Income Tax Tue, 30 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59116