https://www.taxtmi.com/caselaws?id=257332 The Tribunal upheld the CIT(A)'s decisions on all issues, dismissing the revenue's appeal. The disallowance under Section 37(1) for Sales Tax Interest & Penalty was restricted after determining compensatory nature. Depreciation disallowance under Section 32(1) was overturned as assets were ready for use. Sales Service Charges disallowance was reduced due to non-franchise services. Administrative Expenses disallowance was cut after proper expense allocation. Short-term Capital Gain calculation was corrected as not all assets were sold. The Tribunal found the CIT(A)'s analysis and precedents valid, pronouncing the order on 20-02-2015. en-us Fri, 20 Feb 2015 00:00:00 +0530 Mon, 09 Mar 2015 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257332 The Tribunal upheld the CIT(A)'s decisions on all issues, dismissing the revenue's appeal. The disallowance under Section 37(1) for Sales Tax Interest & Penalty was restricted after determining compensatory nature. Depreciation disallowance under Section 32(1) was overturned as assets were ready for use. Sales Service Charges disallowance was reduced due to non-franchise services. Administrative Expenses disallowance was cut after proper expense allocation. Short-term Capital Gain calculation was corrected as not all assets were sold. The Tribunal found the CIT(A)'s analysis and precedents valid, pronouncing the order on 20-02-2015. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257332