https://www.taxtmi.com/caselaws?id=262200 The Tribunal affirmed the CIT(A)'s decision to allocate selling and administrative expenses based on turnover but upheld the deletion of reallocations of interest, finance charges, and depreciation between 80IB and non-80IB units. The ground on denial of opportunity to the AO before admitting new facts was dismissed for lack of identification of new facts. The disallowance of interest subsidy was deleted as the subsidy, once taxed on an accrual basis, could not be taxed again on receipt. The addition of interest payment under section 43B was deleted due to lack of reasoning. The addition under section 68 for an unsecured loan was deleted, and the disallowance under section 14A was significantly reduced based on fixed asset-related interest expenditure. en-us Wed, 20 May 2015 00:00:00 +0530 Wed, 05 Aug 2015 06:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262200 The Tribunal affirmed the CIT(A)'s decision to allocate selling and administrative expenses based on turnover but upheld the deletion of reallocations of interest, finance charges, and depreciation between 80IB and non-80IB units. The ground on denial of opportunity to the AO before admitting new facts was dismissed for lack of identification of new facts. The disallowance of interest subsidy was deleted as the subsidy, once taxed on an accrual basis, could not be taxed again on receipt. The addition of interest payment under section 43B was deleted due to lack of reasoning. The addition under section 68 for an unsecured loan was deleted, and the disallowance under section 14A was significantly reduced based on fixed asset-related interest expenditure. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262200