https://www.taxtmi.com/caselaws?id=335284 The Tribunal deemed the assessment order valid as it was issued within the limitation period. The reference to the Transfer Pricing Officer was upheld, and non-compliance with CBDT instructions was dismissed. Share application money partly treated as loans was upheld, with interest computation directed. Disallowance of lease rentals was upheld but allowed for depreciation and interest. Loss on forward exchange contracts disallowed due to subsequent allowance. Provision for leave encashment issue referred to Supreme Court. Disallowance under Section 14A was dismissed. Levy of interest under Sections 234B and 234C was upheld. General grounds for appeal were dismissed. The appeal was partly allowed with specific directions given for each issue. en-us Fri, 16 Sep 2016 00:00:00 +0530 Tue, 29 Nov 2016 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335284 The Tribunal deemed the assessment order valid as it was issued within the limitation period. The reference to the Transfer Pricing Officer was upheld, and non-compliance with CBDT instructions was dismissed. Share application money partly treated as loans was upheld, with interest computation directed. Disallowance of lease rentals was upheld but allowed for depreciation and interest. Loss on forward exchange contracts disallowed due to subsequent allowance. Provision for leave encashment issue referred to Supreme Court. Disallowance under Section 14A was dismissed. Levy of interest under Sections 234B and 234C was upheld. General grounds for appeal were dismissed. The appeal was partly allowed with specific directions given for each issue. Case-Laws Income Tax Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335284