https://www.taxtmi.com/caselaws?id=188540 The Tribunal partially allowed the appeals, directing the Assessing Officer (AO) to disallow only a reduced amount for prior period expenditure. Club membership fees were allowed as revenue expenditure based on precedents. Depreciation on cars was subject to further examination regarding ownership. Issues regarding disallowance under section 14A and deduction under section 80HHC were remanded for fresh consideration. Treatment of various incomes and foreign exchange gain were referred back for review. The matters of sundry credit balance and provisions of doubtful debts were also remitted for reevaluation by the respective authorities. en-us Thu, 04 Nov 2010 00:00:00 +0530 Mon, 05 Dec 2016 11:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188540 The Tribunal partially allowed the appeals, directing the Assessing Officer (AO) to disallow only a reduced amount for prior period expenditure. Club membership fees were allowed as revenue expenditure based on precedents. Depreciation on cars was subject to further examination regarding ownership. Issues regarding disallowance under section 14A and deduction under section 80HHC were remanded for fresh consideration. Treatment of various incomes and foreign exchange gain were referred back for review. The matters of sundry credit balance and provisions of doubtful debts were also remitted for reevaluation by the respective authorities. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188540