https://www.taxtmi.com/caselaws?id=345060 The Tribunal partly allowed the appeals challenging various additions and disallowances in the tax assessment. It upheld the deduction of rent for the entire year, reasonable disallowance under Section 14A, deletion of ad hoc disallowance related to certain businesses, treatment of consultancy expenses as revenue expenditure, eligibility of 60% depreciation on software licenses, and treatment of certain expenses as revenue rather than capital expenditure. The Tribunal also remanded the issue of repairs to furniture and fixtures for further analysis and deleted the addition of unearned income based on the matching principle. en-us Fri, 21 Oct 2016 00:00:00 +0530 Thu, 06 Jul 2017 08:28:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345060 The Tribunal partly allowed the appeals challenging various additions and disallowances in the tax assessment. It upheld the deduction of rent for the entire year, reasonable disallowance under Section 14A, deletion of ad hoc disallowance related to certain businesses, treatment of consultancy expenses as revenue expenditure, eligibility of 60% depreciation on software licenses, and treatment of certain expenses as revenue rather than capital expenditure. The Tribunal also remanded the issue of repairs to furniture and fixtures for further analysis and deleted the addition of unearned income based on the matching principle. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345060