https://www.taxtmi.com/caselaws?id=210540 The Appellate Tribunal set aside the Assessing Officer's disallowance of sundry balance written off and traveling expenses, directing a fresh examination with necessary details. Regarding the disallowance of expenses under section 14A, the Tribunal ruled that Rule 8D's retrospective application did not apply for the assessment year 2006-07, in line with the Bombay High Court's judgment. The Tribunal upheld the deduction claimed under section 80IB, considering the transformation of rough marble blocks into polished slabs as manufacturing, leading to the allowance of the deduction and dismissal of the revenue's appeal. en-us Wed, 04 Jan 2012 00:00:00 +0530 Tue, 14 Feb 2012 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210540 The Appellate Tribunal set aside the Assessing Officer's disallowance of sundry balance written off and traveling expenses, directing a fresh examination with necessary details. Regarding the disallowance of expenses under section 14A, the Tribunal ruled that Rule 8D's retrospective application did not apply for the assessment year 2006-07, in line with the Bombay High Court's judgment. The Tribunal upheld the deduction claimed under section 80IB, considering the transformation of rough marble blocks into polished slabs as manufacturing, leading to the allowance of the deduction and dismissal of the revenue's appeal. Case-Laws Income Tax Wed, 04 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210540