https://www.taxtmi.com/caselaws?id=256988 The Tribunal allowed the assessee's appeal for Assessment Year 2007-08, holding that expenditure on the purchase of software, provision for expenses, broken period interest, write-off of non-convertible debentures, operational losses, mark-to-market losses, diminution in value of investments, and insurance premium for housing loans were all allowable deductions. The Tribunal also ruled that Section 115JB is not applicable to banking companies. The decisions were based on judicial precedents and the nature of the expenses incurred by the assessee. en-us Fri, 06 Feb 2015 00:00:00 +0530 Wed, 25 Feb 2015 08:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256988 The Tribunal allowed the assessee's appeal for Assessment Year 2007-08, holding that expenditure on the purchase of software, provision for expenses, broken period interest, write-off of non-convertible debentures, operational losses, mark-to-market losses, diminution in value of investments, and insurance premium for housing loans were all allowable deductions. The Tribunal also ruled that Section 115JB is not applicable to banking companies. The decisions were based on judicial precedents and the nature of the expenses incurred by the assessee. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256988