https://www.taxtmi.com/caselaws?id=181174 The ITAT delivered mixed outcomes across various issues. It upheld the AO's disallowance of depreciation for a partly let-out building and allowed club fee expenses as part of employee remuneration. The matter of interest payments and uncertain liabilities was remitted to the AO for further verification. The write-off of advances to GPEL and bonus payments were allowed as legitimate business expenses. The deduction under sec.80IA was partially allowed, requiring further examination by the AO. The ITAT confirmed adjustments to book profits under sec.115JB and remitted the issue of provisions for bonus and leave encashment for actuarial valuation verification. Interest levied under sec.234D was deemed inapplicable before 1-6-2003. en-us Tue, 05 Oct 2010 00:00:00 +0530 Mon, 27 May 2024 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181174 The ITAT delivered mixed outcomes across various issues. It upheld the AO's disallowance of depreciation for a partly let-out building and allowed club fee expenses as part of employee remuneration. The matter of interest payments and uncertain liabilities was remitted to the AO for further verification. The write-off of advances to GPEL and bonus payments were allowed as legitimate business expenses. The deduction under sec.80IA was partially allowed, requiring further examination by the AO. The ITAT confirmed adjustments to book profits under sec.115JB and remitted the issue of provisions for bonus and leave encashment for actuarial valuation verification. Interest levied under sec.234D was deemed inapplicable before 1-6-2003. Case-Laws Income Tax Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181174