https://www.taxtmi.com/caselaws?id=219578 The Tribunal partially allowed the appeal in a tax case involving disallowance of sales promotion expenses, employees' contributions to ESI and PF, and interest expenses under Section 14A of the Income Tax Act. The Tribunal reduced the disallowance of sales promotion expenses from 50% to 25% due to the necessity of such expenses in the business. It allowed the deduction for employees' contributions made before the due date for filing the return of income, contrary to the AO's disallowance. However, it upheld the disallowance of interest expenses under Section 14A, concluding that investments yielding tax-free income justify such disallowance. en-us Wed, 18 Jul 2012 00:00:00 +0530 Tue, 06 Nov 2012 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219578 The Tribunal partially allowed the appeal in a tax case involving disallowance of sales promotion expenses, employees' contributions to ESI and PF, and interest expenses under Section 14A of the Income Tax Act. The Tribunal reduced the disallowance of sales promotion expenses from 50% to 25% due to the necessity of such expenses in the business. It allowed the deduction for employees' contributions made before the due date for filing the return of income, contrary to the AO's disallowance. However, it upheld the disallowance of interest expenses under Section 14A, concluding that investments yielding tax-free income justify such disallowance. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219578