https://www.taxtmi.com/caselaws?id=348471 The Tribunal partly allowed the appeal, providing relief to the assessee on various grounds. The disallowance under section 14A was deleted based on the availability of interest-free funds. The donation payment was allowed as a business expenditure under section 37(1) for public welfare activities. The disallowance of provisions for leave encashment under section 43B was rejected, allowing deduction for actual payments made. The disallowance of employees' compensation expenses (ESOPs discount) was also allowed as revenue expenditure under section 37(1). The Assessing Officer was directed to recompute certain disallowances based on the Tribunal's directions. en-us Mon, 18 Sep 2017 00:00:00 +0530 Fri, 22 Sep 2017 06:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348471 The Tribunal partly allowed the appeal, providing relief to the assessee on various grounds. The disallowance under section 14A was deleted based on the availability of interest-free funds. The donation payment was allowed as a business expenditure under section 37(1) for public welfare activities. The disallowance of provisions for leave encashment under section 43B was rejected, allowing deduction for actual payments made. The disallowance of employees' compensation expenses (ESOPs discount) was also allowed as revenue expenditure under section 37(1). The Assessing Officer was directed to recompute certain disallowances based on the Tribunal's directions. Case-Laws Income Tax Mon, 18 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348471