https://www.taxtmi.com/caselaws?id=342734 The Tribunal dismissed the Revenue's appeal on the nature of expenditure for renovation, valuation of closing stock, and disallowance of business loss and under section 14A of the Income Tax Act. The Tribunal held that the renovation expenditure was revenue in nature, upheld the tax-neutral valuation method for closing stock, and partially allowed the Assessee's Cross Objection regarding the disallowance under section 14A, limiting it to dividend income earned. en-us Mon, 01 May 2017 00:00:00 +0530 Thu, 11 May 2017 07:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342734 The Tribunal dismissed the Revenue's appeal on the nature of expenditure for renovation, valuation of closing stock, and disallowance of business loss and under section 14A of the Income Tax Act. The Tribunal held that the renovation expenditure was revenue in nature, upheld the tax-neutral valuation method for closing stock, and partially allowed the Assessee's Cross Objection regarding the disallowance under section 14A, limiting it to dividend income earned. Case-Laws Income Tax Mon, 01 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342734