https://www.taxtmi.com/caselaws?id=200698 The Tribunal partly allowed the revenue's appeal and the assessee's appeal for statistical purposes, remitting specific issues back to the AO for fresh adjudication. The judgment highlighted the significance of providing detailed evidence and complying with legal provisions in tax assessments. Key outcomes included the non-taxability of foreign exchange gains, allowance of concession fee payable to the Government of India, disallowance of depreciation on intangible assets, partial allowance of repairs and maintenance expenses, and direction to compute set off cumulatively under Section 115JB. The levy of interest under sections 234B and 234D was upheld, while penalty proceedings under Section 271(1)(c) were not addressed further. en-us Tue, 27 Sep 2016 00:00:00 +0530 Sat, 14 Apr 2018 07:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200698 The Tribunal partly allowed the revenue's appeal and the assessee's appeal for statistical purposes, remitting specific issues back to the AO for fresh adjudication. The judgment highlighted the significance of providing detailed evidence and complying with legal provisions in tax assessments. Key outcomes included the non-taxability of foreign exchange gains, allowance of concession fee payable to the Government of India, disallowance of depreciation on intangible assets, partial allowance of repairs and maintenance expenses, and direction to compute set off cumulatively under Section 115JB. The levy of interest under sections 234B and 234D was upheld, while penalty proceedings under Section 271(1)(c) were not addressed further. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200698