https://www.taxtmi.com/caselaws?id=329964 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of expenses under section 40(a)(i) was restored to the CIT(A) for examination under the DTAA provisions. The disallowance of professional fees as capital expenditure was upheld. The disallowance under section 14A was restricted to 5% of exempt income. The disallowance of expenses on the issue of FCCBs was deemed revenue in nature. The disallowance of short-term capital loss on a loan assignment was rejected. The Tribunal provided detailed reasoning based on legal precedents and interpretations of the Income Tax Act and relevant DTAA provisions. en-us Fri, 08 Jul 2016 00:00:00 +0530 Tue, 12 Jul 2016 14:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329964 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of expenses under section 40(a)(i) was restored to the CIT(A) for examination under the DTAA provisions. The disallowance of professional fees as capital expenditure was upheld. The disallowance under section 14A was restricted to 5% of exempt income. The disallowance of expenses on the issue of FCCBs was deemed revenue in nature. The disallowance of short-term capital loss on a loan assignment was rejected. The Tribunal provided detailed reasoning based on legal precedents and interpretations of the Income Tax Act and relevant DTAA provisions. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329964