https://www.taxtmi.com/caselaws?id=240394 Bad debt arising from hire purchase transactions was allowed because the activity formed part of the assessee's regular business and was covered by the Tribunal's earlier view in its own case. Claims relating to bill discounting and inter-corporate deposits were not accepted on the existing record and were remanded for fresh examination. The section 14A disallowance on interest and administrative expenditure was also restored for reconsideration, since the additional material relied on before the first appellate authority had not been verified by the Assessing Officer. Consultancy fees for a restructuring study were held to be capital in nature, as the study related to group restructuring and was not shown to be wholly and exclusively for the assessee's business. en-us Thu, 31 Oct 2013 00:00:00 +0530 Tue, 03 Dec 2013 06:43:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240394 Bad debt arising from hire purchase transactions was allowed because the activity formed part of the assessee's regular business and was covered by the Tribunal's earlier view in its own case. Claims relating to bill discounting and inter-corporate deposits were not accepted on the existing record and were remanded for fresh examination. The section 14A disallowance on interest and administrative expenditure was also restored for reconsideration, since the additional material relied on before the first appellate authority had not been verified by the Assessing Officer. Consultancy fees for a restructuring study were held to be capital in nature, as the study related to group restructuring and was not shown to be wholly and exclusively for the assessee's business. Case-Laws Income Tax Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240394