https://www.taxtmi.com/caselaws?id=60072 Industrial units installed, commissioned and put to trial production may claim depreciation, additional depreciation, investment allowance and trial-run expenditure before commercial production begins, subject to evidence of readiness and use. Interest disallowance requires proof that borrowed funds were diverted for non-business advances; notional interest is insufficient. Statutory liabilities may avoid disallowance where payments and claims do not attract the payment-based restriction, while pre-existing excise liabilities may fall outside its scope. Genuine ex-gratia payments, commercially supported outsourced-service charges, and necessary documented cash payments may qualify as business deductions. Dividend deduction may be computed on gross dividend where no actual expenditure to earn it is established. en-us Mon, 09 Nov 1992 00:00:00 +0530 Mon, 03 Jan 2011 15:53:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60072 Industrial units installed, commissioned and put to trial production may claim depreciation, additional depreciation, investment allowance and trial-run expenditure before commercial production begins, subject to evidence of readiness and use. Interest disallowance requires proof that borrowed funds were diverted for non-business advances; notional interest is insufficient. Statutory liabilities may avoid disallowance where payments and claims do not attract the payment-based restriction, while pre-existing excise liabilities may fall outside its scope. Genuine ex-gratia payments, commercially supported outsourced-service charges, and necessary documented cash payments may qualify as business deductions. Dividend deduction may be computed on gross dividend where no actual expenditure to earn it is established. Case-Laws Income Tax Mon, 09 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60072