https://www.taxtmi.com/caselaws?id=239132 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant, allowing the appeal against the disallowance under section 40(a)(ia) for short deduction of tax. The Tribunal also granted depreciation on paintings, considering them essential for the business. However, the Tribunal only partially allowed the appeal on the disallowance of 25% of expenditure paid in cash, reducing the disallowance percentage to 5% from the original 25%. en-us Fri, 30 Aug 2013 00:00:00 +0530 Tue, 24 Mar 2015 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239132 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant, allowing the appeal against the disallowance under section 40(a)(ia) for short deduction of tax. The Tribunal also granted depreciation on paintings, considering them essential for the business. However, the Tribunal only partially allowed the appeal on the disallowance of 25% of expenditure paid in cash, reducing the disallowance percentage to 5% from the original 25%. Case-Laws Income Tax Fri, 30 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239132