https://www.taxtmi.com/caselaws?id=216982 The ITAT partially allowed the assessee's appeal and dismissed the department's appeal. The key outcomes included directing the AO to re-compute the disallowance under Section 14A, deleting the addition of prior period expenses, sustaining the disallowance of lease premium expenses, upholding the charge of interest under Section 234D, allowing the claim of bad debts, and excluding profits from foreign branches from the total income. en-us Fri, 15 Jun 2012 00:00:00 +0530 Wed, 01 Jul 2026 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216982 The ITAT partially allowed the assessee's appeal and dismissed the department's appeal. The key outcomes included directing the AO to re-compute the disallowance under Section 14A, deleting the addition of prior period expenses, sustaining the disallowance of lease premium expenses, upholding the charge of interest under Section 234D, allowing the claim of bad debts, and excluding profits from foreign branches from the total income. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216982