https://www.taxtmi.com/caselaws?id=243382 The ITAT upheld the CIT(A)'s decisions on various issues, including disallowance of interest expenditure on non-business advances, disallowance under section 40A(2)(b) for excessive payments to related parties, treatment of UPS and building repairs as revenue expenditure, allowance of antivirus software expenses as revenue expenditure, and depreciation on UPS and printers. Additionally, the ITAT supported the CIT(A)'s decisions on unexplained deposits, change in accounting policy for interest provision, cessation of liabilities, expenses related to associate concerns, advertisement expenses, bad debts, diminution in value of investment, and expenditure on stationery. The ITAT also partially allowed the appeal regarding disallowance under section 14A, limiting it to 50% of the exempt income. en-us Fri, 10 Jan 2014 00:00:00 +0530 Sat, 07 Oct 2023 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243382 The ITAT upheld the CIT(A)'s decisions on various issues, including disallowance of interest expenditure on non-business advances, disallowance under section 40A(2)(b) for excessive payments to related parties, treatment of UPS and building repairs as revenue expenditure, allowance of antivirus software expenses as revenue expenditure, and depreciation on UPS and printers. Additionally, the ITAT supported the CIT(A)'s decisions on unexplained deposits, change in accounting policy for interest provision, cessation of liabilities, expenses related to associate concerns, advertisement expenses, bad debts, diminution in value of investment, and expenditure on stationery. The ITAT also partially allowed the appeal regarding disallowance under section 14A, limiting it to 50% of the exempt income. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243382