https://www.taxtmi.com/caselaws?id=213449 The Tribunal partially allowed the revenue's appeal for A.Y. 2004-05, dismissing various grounds raised by the revenue. The Tribunal upheld the disallowance of interest under Sections 234B and 234C due to assessment under MAT provisions. It also affirmed the allowance of club expenditure and rejected the addition under Section 41(1). The Tribunal agreed that no allocation of R&D expenses to 80IB units was necessary and dismissed the revenue's contentions on computing deductions under Sections 80HHC and 115JB. The issue of the validity of reopening the assessment under Section 147 was remanded back to the CIT(A) for fresh consideration. en-us Wed, 30 Nov 2011 00:00:00 +0530 Sun, 20 Jan 2013 21:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213449 The Tribunal partially allowed the revenue's appeal for A.Y. 2004-05, dismissing various grounds raised by the revenue. The Tribunal upheld the disallowance of interest under Sections 234B and 234C due to assessment under MAT provisions. It also affirmed the allowance of club expenditure and rejected the addition under Section 41(1). The Tribunal agreed that no allocation of R&D expenses to 80IB units was necessary and dismissed the revenue's contentions on computing deductions under Sections 80HHC and 115JB. The issue of the validity of reopening the assessment under Section 147 was remanded back to the CIT(A) for fresh consideration. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213449