https://www.taxtmi.com/caselaws?id=330015 The Tribunal partially allowed the revenue's appeal for statistical purposes while also allowing the cross objection of the assessee. The disallowance under Section 14A was deleted as investments were made for business expediency. Disallowance of depreciation on land was deleted as integral to the windmill plant. The disallowance of advertisement expenses was set aside for further verification. Disallowance under Section 40(a)(ia) was deleted as transactions were purchases, not contracts. The addition of notional interest on a trade advance was deleted, and disallowance towards staff welfare expenses was also deleted, considering them as ordinary business expenses. en-us Fri, 08 Jul 2016 00:00:00 +0530 Fri, 15 Jul 2016 11:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330015 The Tribunal partially allowed the revenue's appeal for statistical purposes while also allowing the cross objection of the assessee. The disallowance under Section 14A was deleted as investments were made for business expediency. Disallowance of depreciation on land was deleted as integral to the windmill plant. The disallowance of advertisement expenses was set aside for further verification. Disallowance under Section 40(a)(ia) was deleted as transactions were purchases, not contracts. The addition of notional interest on a trade advance was deleted, and disallowance towards staff welfare expenses was also deleted, considering them as ordinary business expenses. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330015