https://www.taxtmi.com/caselaws?id=331663 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of Product Development Expenditure was upheld, while the deduction under section 10AA on receipts from M/s. Akorn Inc., USA was disallowed. Exclusion of freight and insurance from total turnover for computing deductions under sections 10B and 10AA was upheld. The issue of disallowance of expenditure under section 14A was remanded back to the Assessing Officer. The Tribunal's decisions on provisions for leave encashment, donations, license fees for Microsoft software, foreign travel expenses, PMS fees, and reclassification of assets were in favor of the assessee. en-us Fri, 22 Jul 2016 00:00:00 +0530 Tue, 30 Aug 2016 10:59:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331663 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of Product Development Expenditure was upheld, while the deduction under section 10AA on receipts from M/s. Akorn Inc., USA was disallowed. Exclusion of freight and insurance from total turnover for computing deductions under sections 10B and 10AA was upheld. The issue of disallowance of expenditure under section 14A was remanded back to the Assessing Officer. The Tribunal's decisions on provisions for leave encashment, donations, license fees for Microsoft software, foreign travel expenses, PMS fees, and reclassification of assets were in favor of the assessee. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331663