https://www.taxtmi.com/caselaws?id=180225 The Tribunal allowed the Assessee's appeal regarding the disallowance under Section 14A of the Income Tax Act, emphasizing the need for a proximate connection between expenditure and income not forming part of the total income. The Tribunal upheld the CIT(A)'s decision to allow the expenditure on the repair of Khodginim road, considering it necessary for business operations. Additionally, the Tribunal confirmed the higher depreciation rate for the purchase of UPS, aligning with relevant case law. The Revenue's appeal was dismissed in its entirety. en-us Wed, 31 Jul 2013 00:00:00 +0530 Fri, 27 Jan 2017 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180225 The Tribunal allowed the Assessee's appeal regarding the disallowance under Section 14A of the Income Tax Act, emphasizing the need for a proximate connection between expenditure and income not forming part of the total income. The Tribunal upheld the CIT(A)'s decision to allow the expenditure on the repair of Khodginim road, considering it necessary for business operations. Additionally, the Tribunal confirmed the higher depreciation rate for the purchase of UPS, aligning with relevant case law. The Revenue's appeal was dismissed in its entirety. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180225