https://www.taxtmi.com/caselaws?id=359770 The Tribunal partially allowed the appeals, remanding certain issues for re-examination while confirming others. The disallowance of collection charges under section 40(a)(ia) was upheld, with directions for the AO to verify the matter. The treatment of duty credit entitlement under SFIS was remanded to the CIT(A) for reconsideration based on the nature of the subsidy. The disallowance under section 14A was deleted as no exempt income was earned. Deductions for upfront fee, repair and maintenance, and depreciation were allowed as revenue expenditure. Revenue from National Aviation Company India Ltd. was directed to be recognized on a cash basis due to cash flow issues. en-us Thu, 19 Apr 2018 00:00:00 +0530 Thu, 03 May 2018 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359770 The Tribunal partially allowed the appeals, remanding certain issues for re-examination while confirming others. The disallowance of collection charges under section 40(a)(ia) was upheld, with directions for the AO to verify the matter. The treatment of duty credit entitlement under SFIS was remanded to the CIT(A) for reconsideration based on the nature of the subsidy. The disallowance under section 14A was deleted as no exempt income was earned. Deductions for upfront fee, repair and maintenance, and depreciation were allowed as revenue expenditure. Revenue from National Aviation Company India Ltd. was directed to be recognized on a cash basis due to cash flow issues. Case-Laws Income Tax Thu, 19 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359770