https://www.taxtmi.com/caselaws?id=213328 The Tribunal allowed the assessee's appeal on various issues, including disallowance of Dassara pooja expenses, sports club expenditure, and advertisement expenses. The Tribunal directed the A.O. to compute disallowance under Section 14A and consider unabsorbed business losses. The Tribunal dismissed certain grounds while upholding others, such as disallowance of club expenses and interest on interest-free loans. Additionally, the Tribunal confirmed eligibility for exemption under Section 10(23G) for shares purchased in 1996. The Tribunal also addressed reassessment proceedings and the treatment of unutilized Modvat credit in the closing stock. en-us Wed, 08 Feb 2012 00:00:00 +0530 Fri, 18 May 2012 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213328 The Tribunal allowed the assessee's appeal on various issues, including disallowance of Dassara pooja expenses, sports club expenditure, and advertisement expenses. The Tribunal directed the A.O. to compute disallowance under Section 14A and consider unabsorbed business losses. The Tribunal dismissed certain grounds while upholding others, such as disallowance of club expenses and interest on interest-free loans. Additionally, the Tribunal confirmed eligibility for exemption under Section 10(23G) for shares purchased in 1996. The Tribunal also addressed reassessment proceedings and the treatment of unutilized Modvat credit in the closing stock. Case-Laws Income Tax Wed, 08 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213328