https://www.taxtmi.com/caselaws?id=269154 The Tribunal upheld the reassessment proceedings under Section 147, disallowing the provision for wage arrears, allowing 60% depreciation on UPS, and dismissing the disallowance under Section 14A read with Rule 8D. Section 115JB was held not applicable to banking companies. The treatment of brokerage paid for acquiring investments and loss on sale of investments were remitted for fresh consideration. The Tribunal allowed 60% depreciation on UPS in the Revenue's appeal. The appeals for the assessment year 2005-06 were dismissed for the assessee and partly allowed for the Revenue, while for 2006-07, the assessee's appeal was partly allowed, and the Revenue's appeal was partly allowed for statistical purposes. en-us Fri, 20 Nov 2015 00:00:00 +0530 Tue, 08 Dec 2015 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269154 The Tribunal upheld the reassessment proceedings under Section 147, disallowing the provision for wage arrears, allowing 60% depreciation on UPS, and dismissing the disallowance under Section 14A read with Rule 8D. Section 115JB was held not applicable to banking companies. The treatment of brokerage paid for acquiring investments and loss on sale of investments were remitted for fresh consideration. The Tribunal allowed 60% depreciation on UPS in the Revenue's appeal. The appeals for the assessment year 2005-06 were dismissed for the assessee and partly allowed for the Revenue, while for 2006-07, the assessee's appeal was partly allowed, and the Revenue's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269154