https://www.taxtmi.com/caselaws?id=192404 The Tribunal upheld the disallowance of the amount transferred to Statutory Reserve, citing previous decisions against the assessees. The disallowance under Section 14A was deleted as the Assessing Officer lacked sufficient reasoning. The deduction of the amount transferred to Reserve Fund was dismissed, emphasizing it as an appropriation of profits. The claim for bad debts was allowed, complying with the Income-tax Act. Royalty expenses were considered revenue expenditure. Loss from derivatives/hedging transactions was allowed as a business loss. ESOP expenses were allowed as staff welfare expenditure. Assessees' appeals were partly allowed, Revenue's appeals were dismissed. en-us Thu, 11 Apr 2013 00:00:00 +0530 Tue, 30 May 2017 13:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192404 The Tribunal upheld the disallowance of the amount transferred to Statutory Reserve, citing previous decisions against the assessees. The disallowance under Section 14A was deleted as the Assessing Officer lacked sufficient reasoning. The deduction of the amount transferred to Reserve Fund was dismissed, emphasizing it as an appropriation of profits. The claim for bad debts was allowed, complying with the Income-tax Act. Royalty expenses were considered revenue expenditure. Loss from derivatives/hedging transactions was allowed as a business loss. ESOP expenses were allowed as staff welfare expenditure. Assessees' appeals were partly allowed, Revenue's appeals were dismissed. Case-Laws Income Tax Thu, 11 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192404