https://www.taxtmi.com/caselaws?id=185909 The ITAT upheld the CIT(A)'s decisions on all issues, dismissing both the assessee's and Revenue's appeals. The disallowance under section 14A of the Income-tax Act was partially upheld based on an estimate of administrative expenses. Disallowance of interest on late payment of TDS was upheld as penal in nature. The claim for depreciation was allowed despite the absence of a conveyance deed. Disallowance of foreign traveling expenses was deleted as essential for business. The disallowance of employer's contribution to Provident Fund was rejected as the Provident Fund Trust was recognized. en-us Sat, 29 Dec 2012 00:00:00 +0530 Fri, 02 Sep 2016 11:44:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185909 The ITAT upheld the CIT(A)'s decisions on all issues, dismissing both the assessee's and Revenue's appeals. The disallowance under section 14A of the Income-tax Act was partially upheld based on an estimate of administrative expenses. Disallowance of interest on late payment of TDS was upheld as penal in nature. The claim for depreciation was allowed despite the absence of a conveyance deed. Disallowance of foreign traveling expenses was deleted as essential for business. The disallowance of employer's contribution to Provident Fund was rejected as the Provident Fund Trust was recognized. Case-Laws Income Tax Sat, 29 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185909