https://www.taxtmi.com/caselaws?id=342739 The tribunal ruled in favor of the assessee, dismissing the revenue's appeal and the assessee's cross-objection. The adjustments related to interest on loan and mobilization advance were deleted, considering foreign currency transactions. For the corporate guarantee, a fee of 0.27% was upheld. The disallowance of sub-contract expenditure was set aside for re-examination due to lack of evidence. The disallowances of license membership, subscriptions, access fees, and miscellaneous entertainment expenses were also directed for re-examination, with adjustments limited to 10% of un-vouchered expenses. en-us Wed, 03 May 2017 00:00:00 +0530 Wed, 02 Aug 2017 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342739 The tribunal ruled in favor of the assessee, dismissing the revenue's appeal and the assessee's cross-objection. The adjustments related to interest on loan and mobilization advance were deleted, considering foreign currency transactions. For the corporate guarantee, a fee of 0.27% was upheld. The disallowance of sub-contract expenditure was set aside for re-examination due to lack of evidence. The disallowances of license membership, subscriptions, access fees, and miscellaneous entertainment expenses were also directed for re-examination, with adjustments limited to 10% of un-vouchered expenses. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342739