https://www.taxtmi.com/caselaws?id=212764 The Tribunal upheld the allowance of depreciation on intangible assets but remanded the denial of depreciation on tangible assets for reconsideration. Deductions under sections 80HHC and 80IA were allowed as the assessee met all conditions. The claim for bad debts was accepted, and interest under sections 234B and 234C was deemed mandatory. Penalty initiation under section 271(1)(c) was dismissed as a separate proceeding. Reopening of assessment under section 147 was upheld. Various expense disallowances were confirmed, while deductions under section 80IA on insurance claims were allowed. Other issues were remanded or dismissed based on relevant court decisions. en-us Fri, 06 Jan 2012 00:00:00 +0530 Tue, 24 Apr 2012 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212764 The Tribunal upheld the allowance of depreciation on intangible assets but remanded the denial of depreciation on tangible assets for reconsideration. Deductions under sections 80HHC and 80IA were allowed as the assessee met all conditions. The claim for bad debts was accepted, and interest under sections 234B and 234C was deemed mandatory. Penalty initiation under section 271(1)(c) was dismissed as a separate proceeding. Reopening of assessment under section 147 was upheld. Various expense disallowances were confirmed, while deductions under section 80IA on insurance claims were allowed. Other issues were remanded or dismissed based on relevant court decisions. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212764