https://www.taxtmi.com/caselaws?id=350051 Leasehold premium paid to obtain business premises was treated as revenue expenditure by applying the principle of consistency and earlier coordinate bench rulings, so the disallowance was deleted. The section 14A read with Rule 8D disallowance was also deleted, while the related book profit computation was remanded because the section 14A adjustment was not to be mechanically imported into the relevant book-profit clause. Oil bond loss and interest issues were restored for fresh adjudication, and the contribution to the petroleum technology institute was accepted as deductible, with alternative relief under law directed. en-us Tue, 24 Oct 2017 00:00:00 +0530 Mon, 14 May 2018 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350051 Leasehold premium paid to obtain business premises was treated as revenue expenditure by applying the principle of consistency and earlier coordinate bench rulings, so the disallowance was deleted. The section 14A read with Rule 8D disallowance was also deleted, while the related book profit computation was remanded because the section 14A adjustment was not to be mechanically imported into the relevant book-profit clause. Oil bond loss and interest issues were restored for fresh adjudication, and the contribution to the petroleum technology institute was accepted as deductible, with alternative relief under law directed. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350051