https://www.taxtmi.com/caselaws?id=258049 The Tribunal upheld the rejection of the second revised return by the assessee as it was filed beyond the prescribed time limit. The capital gain from the sale of the Goa unit was classified as a short-term gain. Expenditure towards interest payment to DCP was allowed as a deduction. The issue of honoring a bank guarantee for Pathnet was referred back for further examination. The Tribunal directed the AO to calculate the deduction for ESOP based on established principles. Disallowances of payments to non-residents and various business promotion expenditures were not justified. Other issues such as allocation of head office expenditure, treatment of payments for customer contracts, and transfer pricing adjustments were also addressed by the Tribunal. en-us Thu, 08 Aug 2013 00:00:00 +0530 Sat, 28 Mar 2015 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258049 The Tribunal upheld the rejection of the second revised return by the assessee as it was filed beyond the prescribed time limit. The capital gain from the sale of the Goa unit was classified as a short-term gain. Expenditure towards interest payment to DCP was allowed as a deduction. The issue of honoring a bank guarantee for Pathnet was referred back for further examination. The Tribunal directed the AO to calculate the deduction for ESOP based on established principles. Disallowances of payments to non-residents and various business promotion expenditures were not justified. Other issues such as allocation of head office expenditure, treatment of payments for customer contracts, and transfer pricing adjustments were also addressed by the Tribunal. Case-Laws Income Tax Thu, 08 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258049