https://www.taxtmi.com/caselaws?id=331361 The Tribunal allowed the assessee's appeal against the reopening of assessment beyond four years, as it found no failure to disclose material facts. Disallowance under Section 40(a)(i) for various payments made outside India was not warranted, including sales commission, interest payments, and other expenses. However, the claim for additional depreciation under Section 32(1)(iia) was disallowed. The Tribunal directed the AO to disallow 2% of exempt income under Section 14A and Rule 8D. Depreciation rate on UPS was set at 60%. The apportionment of R&D expenditure for Section 10B deduction was upheld, while issues regarding power charges and book profit computation under Section 115JB were remitted for fresh consideration. en-us Fri, 08 Jan 2016 00:00:00 +0530 Sat, 20 Aug 2016 19:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331361 The Tribunal allowed the assessee's appeal against the reopening of assessment beyond four years, as it found no failure to disclose material facts. Disallowance under Section 40(a)(i) for various payments made outside India was not warranted, including sales commission, interest payments, and other expenses. However, the claim for additional depreciation under Section 32(1)(iia) was disallowed. The Tribunal directed the AO to disallow 2% of exempt income under Section 14A and Rule 8D. Depreciation rate on UPS was set at 60%. The apportionment of R&D expenditure for Section 10B deduction was upheld, while issues regarding power charges and book profit computation under Section 115JB were remitted for fresh consideration. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331361