https://www.taxtmi.com/caselaws?id=249385 The Tribunal dismissed the Revenue's appeal regarding the disallowance of depreciation on leased assets, citing legal precedent allowing depreciation in similar transactions. The Tribunal remanded the issue of interest on borrowed funds back to the CIT(A) for re-adjudication based on a High Court decision. It allowed the interest paid on late dividend tax, considering it compensatory, and directed verification of stamping expenses. Regarding disallowances under section 14A, the Tribunal upheld the CIT(A)'s direction but modified the disallowance percentage. The Tribunal also instructed the AO to verify the actual expenditure claimed by the assessee for proper disallowance calculation. en-us Wed, 25 Jun 2014 00:00:00 +0530 Sat, 12 Jul 2014 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249385 The Tribunal dismissed the Revenue's appeal regarding the disallowance of depreciation on leased assets, citing legal precedent allowing depreciation in similar transactions. The Tribunal remanded the issue of interest on borrowed funds back to the CIT(A) for re-adjudication based on a High Court decision. It allowed the interest paid on late dividend tax, considering it compensatory, and directed verification of stamping expenses. Regarding disallowances under section 14A, the Tribunal upheld the CIT(A)'s direction but modified the disallowance percentage. The Tribunal also instructed the AO to verify the actual expenditure claimed by the assessee for proper disallowance calculation. Case-Laws Income Tax Wed, 25 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249385