https://www.taxtmi.com/caselaws?id=184175 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's appeals. The gain from the repurchase of debentures was not taxed in the year of repurchase but spread over the remaining period. Bad debts were allowed as they were written off as irrecoverable. Interest on Non-Performing Assets was not added to income. Disallowance under Section 14A was limited to specific direct expenses. TDS credit was directed to be granted. The deduction for amortization of premium on securities and ESOP expenditure were remitted back for fresh adjudication by the Assessing Officer in line with relevant judicial precedents. en-us Mon, 11 Apr 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184175 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's appeals. The gain from the repurchase of debentures was not taxed in the year of repurchase but spread over the remaining period. Bad debts were allowed as they were written off as irrecoverable. Interest on Non-Performing Assets was not added to income. Disallowance under Section 14A was limited to specific direct expenses. TDS credit was directed to be granted. The deduction for amortization of premium on securities and ESOP expenditure were remitted back for fresh adjudication by the Assessing Officer in line with relevant judicial precedents. Case-Laws Income Tax Mon, 11 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184175