https://www.taxtmi.com/caselaws?id=261568 The Tribunal upheld the denial of deduction for the loss in shares of ICO Global Holdings Ltd. as a capital loss. The claim under section 80IA for the earth station was dismissed, while the claim for the internet was remitted for fresh consideration. The Tribunal rejected the charging of interest under section 234D but directed exclusion of interest under section 244A. Adjustments in the cost of depreciable fixed assets were accepted. Late PF contributions were allowed. Business expenditure for land use was denied, but repairs and maintenance expenses were allowed. Depreciation on the undersea Flag Cable System was permitted. Penalties under section 271(1)(c) were deleted for various claims. en-us Wed, 08 Jul 2015 00:00:00 +0530 Thu, 16 Jul 2015 08:44:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261568 The Tribunal upheld the denial of deduction for the loss in shares of ICO Global Holdings Ltd. as a capital loss. The claim under section 80IA for the earth station was dismissed, while the claim for the internet was remitted for fresh consideration. The Tribunal rejected the charging of interest under section 234D but directed exclusion of interest under section 244A. Adjustments in the cost of depreciable fixed assets were accepted. Late PF contributions were allowed. Business expenditure for land use was denied, but repairs and maintenance expenses were allowed. Depreciation on the undersea Flag Cable System was permitted. Penalties under section 271(1)(c) were deleted for various claims. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261568