https://www.taxtmi.com/caselaws?id=359560 The Tribunal directed the AO to restrict disallowance under Section 14A to the exempt income earned and not include it when computing book profits under Section 115J. The issue of hire charges for a chartered flight was restored to the AO for re-adjudication due to insufficient documentation. Expenditure for business expansion was treated as revenue expenditure, following decisions from the Jurisdictional High Court. The carry forward of unabsorbed depreciation was allowed, with the Tribunal upholding the Ld.CIT(A)'s decision based on relevant provisions and legal precedents. The appeals were resolved based on specific judgments and legal principles cited. en-us Mon, 12 Mar 2018 00:00:00 +0530 Tue, 01 May 2018 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359560 The Tribunal directed the AO to restrict disallowance under Section 14A to the exempt income earned and not include it when computing book profits under Section 115J. The issue of hire charges for a chartered flight was restored to the AO for re-adjudication due to insufficient documentation. Expenditure for business expansion was treated as revenue expenditure, following decisions from the Jurisdictional High Court. The carry forward of unabsorbed depreciation was allowed, with the Tribunal upholding the Ld.CIT(A)'s decision based on relevant provisions and legal precedents. The appeals were resolved based on specific judgments and legal principles cited. Case-Laws Income Tax Mon, 12 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359560