https://www.taxtmi.com/caselaws?id=59574 The Tribunal partly allowed the appeals by deleting the disallowance of interest expenditure under section 36(1)(iii) and allowing the allocation of interest expenditure to tax-free dividend income. The disallowance for amortization of premium paid for leasehold land was upheld, while the computation of depreciation on assets transferred in a demerger was dismissed. The issue regarding the applicability of section 80HHC(1B) for computing deduction under section 115JB was decided in favor of the assessee. The Tribunal directed the recalculation of book profits under section 115JB after allowing the deduction of interest expenditure, resulting in the allowance of specific grounds based on statutory interpretations and previous decisions. en-us Tue, 30 Sep 2008 00:00:00 +0530 Thu, 19 Jul 2012 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59574 The Tribunal partly allowed the appeals by deleting the disallowance of interest expenditure under section 36(1)(iii) and allowing the allocation of interest expenditure to tax-free dividend income. The disallowance for amortization of premium paid for leasehold land was upheld, while the computation of depreciation on assets transferred in a demerger was dismissed. The issue regarding the applicability of section 80HHC(1B) for computing deduction under section 115JB was decided in favor of the assessee. The Tribunal directed the recalculation of book profits under section 115JB after allowing the deduction of interest expenditure, resulting in the allowance of specific grounds based on statutory interpretations and previous decisions. Case-Laws Income Tax Tue, 30 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59574