https://www.taxtmi.com/caselaws?id=208837 The Tribunal partially allowed both appeals, directing the Assessing Officer to reevaluate the income and expenditure in compliance with legal provisions and precedents cited. The disallowance of deductions under sections 80HHC and 80G was overturned, emphasizing the permissibility of setting off export benefits against negative income post-amendment. The treatment of expenditure on bonus shares was deemed revenue in nature, requiring reassessment by the AO due to the lack of an initial claim before the Commissioner of Income-tax (Appeals). en-us Fri, 29 Jan 2010 00:00:00 +0530 Wed, 04 Jan 2012 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208837 The Tribunal partially allowed both appeals, directing the Assessing Officer to reevaluate the income and expenditure in compliance with legal provisions and precedents cited. The disallowance of deductions under sections 80HHC and 80G was overturned, emphasizing the permissibility of setting off export benefits against negative income post-amendment. The treatment of expenditure on bonus shares was deemed revenue in nature, requiring reassessment by the AO due to the lack of an initial claim before the Commissioner of Income-tax (Appeals). Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208837