https://www.taxtmi.com/caselaws?id=65439 The Tribunal addressed multiple issues, ruling that the benefit from shares at a concessional price was not taxable under Section 2(24) of the Income-tax Act. The merger of societies was deemed valid, and renovation expenses were partly allowed. Software expenses were capitalized, allowing depreciation. Expansion expenses were treated as revenue, and prior period expenses were upheld. Disallowance under Section 14A was reduced, and the premium on SPNs was deductible. Commission, discount, and brokerage expenses were upheld, and no notional interest was added for interest-free loans to a subsidiary. Expenses on product development were allowed as revenue expenditure. en-us Tue, 31 Jan 2006 00:00:00 +0530 Wed, 27 Mar 2024 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65439 The Tribunal addressed multiple issues, ruling that the benefit from shares at a concessional price was not taxable under Section 2(24) of the Income-tax Act. The merger of societies was deemed valid, and renovation expenses were partly allowed. Software expenses were capitalized, allowing depreciation. Expansion expenses were treated as revenue, and prior period expenses were upheld. Disallowance under Section 14A was reduced, and the premium on SPNs was deductible. Commission, discount, and brokerage expenses were upheld, and no notional interest was added for interest-free loans to a subsidiary. Expenses on product development were allowed as revenue expenditure. Case-Laws Income Tax Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65439