https://www.taxtmi.com/caselaws?id=194304 The Tribunal upheld the deletion of disallowance under Section 14A for interest paid on borrowed funds, as investments were made from internal accruals. The disallowance of foreign exchange fluctuation loss was deleted as a revenue expenditure. The confirmation of expenses on software as capital expenditure was remanded for further examination. Ad-hoc disallowance for management expenses was overturned due to lack of evidence. Addition of revenue expenditure for loan funds was allowed. The provision for bad debts was dismissed. Disallowance of amortization of loss on forward cover premium was reversed. The appeal against interest levy under Section 234D was not addressed. en-us Mon, 06 Jun 2016 00:00:00 +0530 Mon, 04 Sep 2017 22:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194304 The Tribunal upheld the deletion of disallowance under Section 14A for interest paid on borrowed funds, as investments were made from internal accruals. The disallowance of foreign exchange fluctuation loss was deleted as a revenue expenditure. The confirmation of expenses on software as capital expenditure was remanded for further examination. Ad-hoc disallowance for management expenses was overturned due to lack of evidence. Addition of revenue expenditure for loan funds was allowed. The provision for bad debts was dismissed. Disallowance of amortization of loss on forward cover premium was reversed. The appeal against interest levy under Section 234D was not addressed. Case-Laws Income Tax Mon, 06 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194304