https://www.taxtmi.com/caselaws?id=341371 The Tribunal ruled in favor of the assessee on various issues, including the nature of brand building expenses being revenue in nature, disallowance under Section 14A being reworked excluding strategic investments, inclusion of Section 14A disallowance in book profits, and allowing unutilized Cenvat Credit. The Tribunal also directed the AO to treat vehicle lease as a revenue expenditure, recast accounts under Section 145A, and allow additional depreciation under Section 32(ii)(a) in subsequent years. Additionally, the Tribunal held that interest under Section 234B could not be charged based on retrospective amendments. en-us Tue, 10 Jan 2017 00:00:00 +0530 Fri, 07 Apr 2017 08:05:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341371 The Tribunal ruled in favor of the assessee on various issues, including the nature of brand building expenses being revenue in nature, disallowance under Section 14A being reworked excluding strategic investments, inclusion of Section 14A disallowance in book profits, and allowing unutilized Cenvat Credit. The Tribunal also directed the AO to treat vehicle lease as a revenue expenditure, recast accounts under Section 145A, and allow additional depreciation under Section 32(ii)(a) in subsequent years. Additionally, the Tribunal held that interest under Section 234B could not be charged based on retrospective amendments. Case-Laws Income Tax Tue, 10 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341371