https://www.taxtmi.com/caselaws?id=178892 The Tribunal directed the AO to restrict the disallowance of interest related to earning dividend income under Section 14A at 2% of the dividend received. It also instructed the AO to allow the deduction under Section 80HHC without reducing the profits under Section 80-IA. The Tribunal deleted the disallowance of PF and ESIC contributions, upheld the weighted deduction under Section 35(2AB), and directed the AO to recompute expenses allocation. Additionally, it allowed 100% depreciation on the Effluent Treatment Plant and treated software expenses as revenue expenditure. The Tribunal also excluded sales tax and excise duty from total turnover for computing deduction under Section 80HHC. en-us Fri, 30 Mar 2012 00:00:00 +0530 Mon, 28 Aug 2017 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178892 The Tribunal directed the AO to restrict the disallowance of interest related to earning dividend income under Section 14A at 2% of the dividend received. It also instructed the AO to allow the deduction under Section 80HHC without reducing the profits under Section 80-IA. The Tribunal deleted the disallowance of PF and ESIC contributions, upheld the weighted deduction under Section 35(2AB), and directed the AO to recompute expenses allocation. Additionally, it allowed 100% depreciation on the Effluent Treatment Plant and treated software expenses as revenue expenditure. The Tribunal also excluded sales tax and excise duty from total turnover for computing deduction under Section 80HHC. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178892