https://www.taxtmi.com/caselaws?id=337804 The tribunal dismissed both the Revenue's and the assessee's appeals, upholding the CIT(A)'s decisions on multiple issues. The tribunal agreed with the CIT(A) that factory building repair expenses were revenue expenditure, not capital. Disallowance of expenses related to exempt income under Section 14A was restricted based on interest-free funds. The addition for work-in-progress was deleted due to lack of evidence, and foreign travel expenses disallowed for insufficient justification. Overall, the tribunal upheld the CIT(A)'s rulings on expenditure treatment, disallowance, and additions. en-us Tue, 15 Nov 2016 00:00:00 +0530 Wed, 18 Jan 2017 08:45:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337804 The tribunal dismissed both the Revenue's and the assessee's appeals, upholding the CIT(A)'s decisions on multiple issues. The tribunal agreed with the CIT(A) that factory building repair expenses were revenue expenditure, not capital. Disallowance of expenses related to exempt income under Section 14A was restricted based on interest-free funds. The addition for work-in-progress was deleted due to lack of evidence, and foreign travel expenses disallowed for insufficient justification. Overall, the tribunal upheld the CIT(A)'s rulings on expenditure treatment, disallowance, and additions. Case-Laws Income Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337804