https://www.taxtmi.com/caselaws?id=179388 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer. The first issue regarding disallowance of expenses attributable to exempt income under section 14A was resolved in favor of the assessee, citing non-retrospective application of Rule 8D. The second issue on extra depreciation for computer peripherals was allowed at 60% depreciation rate. Lastly, the disallowance of interest on interest-free loans to sister concerns was also deleted, as the assessee had sufficient own funds. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. en-us Fri, 29 Nov 2013 00:00:00 +0530 Mon, 29 Feb 2016 10:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179388 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer. The first issue regarding disallowance of expenses attributable to exempt income under section 14A was resolved in favor of the assessee, citing non-retrospective application of Rule 8D. The second issue on extra depreciation for computer peripherals was allowed at 60% depreciation rate. Lastly, the disallowance of interest on interest-free loans to sister concerns was also deleted, as the assessee had sufficient own funds. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179388