https://www.taxtmi.com/caselaws?id=271713 The Tribunal partially allowed the appeal, directing reassessment and deletion of certain disallowances. The disallowance under S.35(2AB) for scientific research was remitted back to the AO for verification of necessary approval. Disallowance under S.36(1)(iii) for bank interest was deleted as investments were from internal accruals. The direction to allow deduction under S.80G for donation to TTD was upheld. Disallowance of interest on FCCBs under S.40(a)(ia) was deleted as payments were made outside India. The levy of interest under S.234B and S.234C was upheld as calculated by the AO. en-us Wed, 23 Dec 2015 00:00:00 +0530 Mon, 15 Feb 2016 00:44:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271713 The Tribunal partially allowed the appeal, directing reassessment and deletion of certain disallowances. The disallowance under S.35(2AB) for scientific research was remitted back to the AO for verification of necessary approval. Disallowance under S.36(1)(iii) for bank interest was deleted as investments were from internal accruals. The direction to allow deduction under S.80G for donation to TTD was upheld. Disallowance of interest on FCCBs under S.40(a)(ia) was deleted as payments were made outside India. The levy of interest under S.234B and S.234C was upheld as calculated by the AO. Case-Laws Income Tax Wed, 23 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271713