https://www.taxtmi.com/caselaws?id=267531 The Tribunal upheld the capital nature treatment of a non-compete fee, reversed the allowance of legal and professional services expenses as revenue, upheld the treatment of a payment to the holding company as revenue, deleted the disallowance of excessive commission, remanded the issue of water charges disallowance, allowed certain business expenses disallowed by the AO, allowed the cost of purchasing shares, reversed the treatment of Techno Commercial Licensing Fees as capital, deleted the disallowance of commission paid on sale, allowed foreign exchange fluctuation loss, and restricted disallowance under Section 14A to 10% of dividend income. The Tribunal stressed the need for substantial evidence in disallowance decisions. en-us Mon, 03 Aug 2015 00:00:00 +0530 Sat, 07 Nov 2015 20:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267531 The Tribunal upheld the capital nature treatment of a non-compete fee, reversed the allowance of legal and professional services expenses as revenue, upheld the treatment of a payment to the holding company as revenue, deleted the disallowance of excessive commission, remanded the issue of water charges disallowance, allowed certain business expenses disallowed by the AO, allowed the cost of purchasing shares, reversed the treatment of Techno Commercial Licensing Fees as capital, deleted the disallowance of commission paid on sale, allowed foreign exchange fluctuation loss, and restricted disallowance under Section 14A to 10% of dividend income. The Tribunal stressed the need for substantial evidence in disallowance decisions. Case-Laws Income Tax Mon, 03 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267531