https://www.taxtmi.com/caselaws?id=340314 The Tribunal partly allowed the appeals in the case. The delay in filing the Revenue's appeal was condoned due to workload reasons. Disallowance under Section 14A of the Income Tax Act was upheld, but the AO was directed to compute it based on specific shares yielding dividend income. Compensation received from the supplier of Wind Electric Generators was treated as revenue, not capital, favoring the Revenue's appeal. The disallowance of prior period expenses was partially allowed, with the Tribunal dismissing the Revenue's ground. The decisions aligned with legal precedents and statutory provisions. en-us Fri, 10 Mar 2017 00:00:00 +0530 Fri, 17 Mar 2017 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340314 The Tribunal partly allowed the appeals in the case. The delay in filing the Revenue's appeal was condoned due to workload reasons. Disallowance under Section 14A of the Income Tax Act was upheld, but the AO was directed to compute it based on specific shares yielding dividend income. Compensation received from the supplier of Wind Electric Generators was treated as revenue, not capital, favoring the Revenue's appeal. The disallowance of prior period expenses was partially allowed, with the Tribunal dismissing the Revenue's ground. The decisions aligned with legal precedents and statutory provisions. Case-Laws Income Tax Fri, 10 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340314