https://www.taxtmi.com/caselaws?id=351666 The Tribunal allowed the appeal of the assessee, ruling in favor of the appellant on all contested issues. The disallowance of expenses related to exempt income under section 14A was deleted as no specific expenditure was linked to the exempt income. The ad-hoc disallowance of business promotion expenses was also deleted due to lack of specific identification of non-business related expenses. Additionally, the treatment of replacement of compressor as capital expenditure was overturned, emphasizing the revenue nature of the expenditure. The judgment emphasized the importance of specific findings and consistency in making disallowances. en-us Mon, 20 Nov 2017 00:00:00 +0530 Tue, 28 Nov 2017 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351666 The Tribunal allowed the appeal of the assessee, ruling in favor of the appellant on all contested issues. The disallowance of expenses related to exempt income under section 14A was deleted as no specific expenditure was linked to the exempt income. The ad-hoc disallowance of business promotion expenses was also deleted due to lack of specific identification of non-business related expenses. Additionally, the treatment of replacement of compressor as capital expenditure was overturned, emphasizing the revenue nature of the expenditure. The judgment emphasized the importance of specific findings and consistency in making disallowances. Case-Laws Income Tax Mon, 20 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351666