https://www.taxtmi.com/caselaws?id=181307 The Tribunal partly allowed the assessee's appeal by confirming a 1% disallowance for administrative expenses under Section 14A, upholding the disallowance of lease premiums as capital expenditure, allowing the deduction for bad debts under Section 36(1)(vii), dismissing the penalty proceedings under Section 271(1)(c), exempting banks from Section 115JB provisions, upholding the allowance of bad debts not written off, confirming the deduction of diminution in value of investments as business loss, and affirming the depreciation claim on lease assets. The Tribunal directed the Assessing Officer to adhere to established precedents in each issue. en-us Fri, 28 Aug 2015 00:00:00 +0530 Wed, 13 Apr 2016 10:03:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181307 The Tribunal partly allowed the assessee's appeal by confirming a 1% disallowance for administrative expenses under Section 14A, upholding the disallowance of lease premiums as capital expenditure, allowing the deduction for bad debts under Section 36(1)(vii), dismissing the penalty proceedings under Section 271(1)(c), exempting banks from Section 115JB provisions, upholding the allowance of bad debts not written off, confirming the deduction of diminution in value of investments as business loss, and affirming the depreciation claim on lease assets. The Tribunal directed the Assessing Officer to adhere to established precedents in each issue. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181307