https://www.taxtmi.com/caselaws?id=243655 The High Court held that VSAT/Leaseline charges were not subject to tax deduction as they were reimbursement payments and lacked an income element. Penalties for violating stock exchange bye laws were deemed allowable business expenditures. Transaction charges to the stock exchange were not subject to tax deduction due to mutual oversight. Expenses related to tax-exempt dividend income were to be recomputed without applying Rule 8D. The disallowance of STT paid on behalf of the client required further review. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, addressing various issues for the assessment year 2005-2006. en-us Tue, 30 Oct 2012 00:00:00 +0530 Fri, 07 Feb 2014 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243655 The High Court held that VSAT/Leaseline charges were not subject to tax deduction as they were reimbursement payments and lacked an income element. Penalties for violating stock exchange bye laws were deemed allowable business expenditures. Transaction charges to the stock exchange were not subject to tax deduction due to mutual oversight. Expenses related to tax-exempt dividend income were to be recomputed without applying Rule 8D. The disallowance of STT paid on behalf of the client required further review. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, addressing various issues for the assessment year 2005-2006. Case-Laws Income Tax Tue, 30 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243655