https://www.taxtmi.com/caselaws?id=254766 The Revenue's appeal was dismissed in the case. The Tribunal upheld the deletion of the addition of Rs. 4,48,01,000, finding the assessee's profit reasonable and no inflated expenditure. The disallowance under Section 14A was restricted to Rs. 1,26,710 due to lack of nexus between borrowed funds and investments. The disallowance of repair and maintenance expenses was partly allowed, with expenses on the factory building deemed revenue expenditure and software upgrades considered revenue in nature based on precedent. en-us Fri, 21 Nov 2014 00:00:00 +0530 Fri, 22 May 2015 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254766 The Revenue's appeal was dismissed in the case. The Tribunal upheld the deletion of the addition of Rs. 4,48,01,000, finding the assessee's profit reasonable and no inflated expenditure. The disallowance under Section 14A was restricted to Rs. 1,26,710 due to lack of nexus between borrowed funds and investments. The disallowance of repair and maintenance expenses was partly allowed, with expenses on the factory building deemed revenue expenditure and software upgrades considered revenue in nature based on precedent. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254766