Abhishek Indust ries Ltd. vs DCIT

Whether payment to Electricity Board for laying high power electric lines is capital or revenue expenditure --- Held: Matter restored to CIT(A) for fresh adjudication. Whether disallowance of financial expenses under section 80IA is justified --- Held: Matter restored to CIT(A) for fresh adjudication. Whether disallowance of interest under section 36(1)(iii) on investments is justified --- Held: Matter restored to CIT(A) for fresh adjudication. Whether MAT credit should be adjusted before or after surcharge and cess --- Held: MAT credit to be adjusted against tax liability before surcharge and cess. Whether disallowance under section 14A is justified when no exempt income is earned --- Held: No disallowance under section 14A is attracted.