https://www.taxtmi.com/caselaws?id=247156 The ITAT dismissed the revenue's appeal challenging the deletion of depreciation on goodwill, following the precedent set by the Supreme Court. Regarding disallowance under Section 14A, the ITAT found the AO's decision lacking proper adjudication and deleted the partial addition made by the CIT(A). Concerning the treatment of prior period expenses, the ITAT allowed the deduction of leave encashment payment under sec. 43B, agreeing with the assessee's argument that such expenses were allowable in the year of payment. en-us Fri, 07 Mar 2014 00:00:00 +0530 Sat, 03 May 2014 09:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247156 The ITAT dismissed the revenue's appeal challenging the deletion of depreciation on goodwill, following the precedent set by the Supreme Court. Regarding disallowance under Section 14A, the ITAT found the AO's decision lacking proper adjudication and deleted the partial addition made by the CIT(A). Concerning the treatment of prior period expenses, the ITAT allowed the deduction of leave encashment payment under sec. 43B, agreeing with the assessee's argument that such expenses were allowable in the year of payment. Case-Laws Income Tax Fri, 07 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247156