https://www.taxtmi.com/caselaws?id=251229 The ITAT ruled in favor of the assessee on various issues, including treating entertainment tax exemptions as capital receipts, allowing deductions for professional fees and stamp duty, and reversing the denial of Section 80IB deductions due to incorrect built-up area calculations. Additionally, provisions for gratuity and leave encashment were not added back to book profits, and losses from cross-currency swap transactions were deemed non-speculative. Expenditures on abandoned projects were considered revenue expenses, following a similar line of business precedent. Appeals related to certain incomes under Section 80IB were dismissed as academic. en-us Fri, 09 Sep 2011 00:00:00 +0530 Mon, 08 Sep 2014 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251229 The ITAT ruled in favor of the assessee on various issues, including treating entertainment tax exemptions as capital receipts, allowing deductions for professional fees and stamp duty, and reversing the denial of Section 80IB deductions due to incorrect built-up area calculations. Additionally, provisions for gratuity and leave encashment were not added back to book profits, and losses from cross-currency swap transactions were deemed non-speculative. Expenditures on abandoned projects were considered revenue expenses, following a similar line of business precedent. Appeals related to certain incomes under Section 80IB were dismissed as academic. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251229