“Section 35(1)(iia)”

A provision for doubtful debts cannot be added back while computing book profits under Section 115JB of the Income-tax Act for Minimum Alternate Tax (MAT) purposes.

An assessee engaged in the manufacture or production of an article or thing is entitled to additional depreciation under Section 32(1)(iia) for new machinery or plant, such as a windmill for power generation, even if it is not directly used in the primary manufacturing activity.

Interest paid on money borrowed for acquiring machinery is deductible under Section 36(1)(iii) even if the machinery is not put to use in the year of borrowing. This principle applies to the 'for the purpose of business' test for borrowed capital.

No disallowance under Section 14A is warranted if the Assessing Officer fails to record any finding regarding the incurrence of expenditure by the assessee for earning exempt income. The mere presence of sufficient interest-free funds in excess of interest-bearing funds does not automatically lead to a disallowance under Section 14A if no expenditure is linked to earning exempt income.

Additional depreciation under Section 32(1)(iia) can be claimed in the year an asset is acquired and installed, even if it is claimed in a subsequent year of acquisition and installation.

Disallowance under Section 14A cannot be added back when computing book profit under Section 115JB, as Section 115JB is a complete code in itself.

Additional depreciation under section 32(1)(iia) is allowable if the assessee is engaged in the business of manufacture or production, even if the new machinery or plant is not directly used in the manufacturing or production process.

If the language of a statute is plain and capable of only one meaning, that obvious meaning must be given to the provision. This principle applies to statutory interpretation, including provisions like Section 14A which cannot be extended to Section 115JB.