https://www.taxtmi.com/caselaws?id=243625 The Tribunal partly allowed the assessee's appeal, directing the re-computation of disallowance under Section 14A read with Rule 8D, excluding short-term investments. It also allowed the non-resident firm's payment without tax deduction, treated building expenses as revenue, permitted excess depreciation on UPS, and disallowed investment management fee taxation. Payments to mutual fund distributors were not subject to disallowance, and the book profit under MAT provisions was dismissed. Interest levy under Sections 234B and 234D was upheld. The Tribunal's decision was issued on 19th July 2013 in Chennai. en-us Fri, 19 Jul 2013 00:00:00 +0530 Thu, 06 Feb 2014 08:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243625 The Tribunal partly allowed the assessee's appeal, directing the re-computation of disallowance under Section 14A read with Rule 8D, excluding short-term investments. It also allowed the non-resident firm's payment without tax deduction, treated building expenses as revenue, permitted excess depreciation on UPS, and disallowed investment management fee taxation. Payments to mutual fund distributors were not subject to disallowance, and the book profit under MAT provisions was dismissed. Interest levy under Sections 234B and 234D was upheld. The Tribunal's decision was issued on 19th July 2013 in Chennai. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243625