https://www.taxtmi.com/caselaws?id=192396 The Tribunal confirmed the disallowance of funds transferred to the Reserve Fund as an application of income, upheld the penalty under Section 234D for interest on refunded amounts, and supported the disallowance under Section 14A read with Rule 8D. It directed verification and allowance of TDS credit, disallowed the transfer to Statutory Reserve from taxable income, upheld the deletion of bad debts, confirmed the deletion of royalty addition, and allowed ESOP expenditure as revenue. The appeal of the assessee was partly allowed, while the Revenue's appeal was dismissed. en-us Wed, 24 Aug 2016 00:00:00 +0530 Mon, 08 Aug 2022 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192396 The Tribunal confirmed the disallowance of funds transferred to the Reserve Fund as an application of income, upheld the penalty under Section 234D for interest on refunded amounts, and supported the disallowance under Section 14A read with Rule 8D. It directed verification and allowance of TDS credit, disallowed the transfer to Statutory Reserve from taxable income, upheld the deletion of bad debts, confirmed the deletion of royalty addition, and allowed ESOP expenditure as revenue. The appeal of the assessee was partly allowed, while the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192396