https://www.taxtmi.com/caselaws?id=242323 The ITAT partly allowed the appeals, remitting specific issues to the AO for further examination. The disallowance of amortization of expenses under Section 35D was set aside, allowing the claim under Section 37 if incurred for business purposes. The treatment of loss from foreign exchange fluctuation was referred back to the AO to determine its nature based on loan utilization. Exclusion of annual maintenance charges under Section 80IB was upheld, and the disallowance under Section 14A was remitted for reevaluation. The decisions were based on legal interpretations and precedent cases, ensuring a comprehensive analysis of each issue. en-us Fri, 10 May 2013 00:00:00 +0530 Mon, 13 Jan 2014 09:50:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242323 The ITAT partly allowed the appeals, remitting specific issues to the AO for further examination. The disallowance of amortization of expenses under Section 35D was set aside, allowing the claim under Section 37 if incurred for business purposes. The treatment of loss from foreign exchange fluctuation was referred back to the AO to determine its nature based on loan utilization. Exclusion of annual maintenance charges under Section 80IB was upheld, and the disallowance under Section 14A was remitted for reevaluation. The decisions were based on legal interpretations and precedent cases, ensuring a comprehensive analysis of each issue. Case-Laws Income Tax Fri, 10 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242323