https://www.taxtmi.com/caselaws?id=273284 The Tribunal upheld the disallowance of expenditure on distribution of gift articles, dismissed the adhoc addition on valuation of closing stock, directed deletion of disallowance under section 14A r.w. Rule 8D, instructed deletion of addition for guarantee commission, dismissed claim for depreciation on advertisement expenses, and remanded the taxability of royalty income from overseas subsidiary for reconsideration under the DTAA between India and Egypt. The Tribunal disposed of cross-appeals by the assessee and Revenue together, applying legal principles and precedents to determine the outcome for the assessment year 2008-09. en-us Fri, 20 Nov 2015 00:00:00 +0530 Fri, 15 Jun 2018 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273284 The Tribunal upheld the disallowance of expenditure on distribution of gift articles, dismissed the adhoc addition on valuation of closing stock, directed deletion of disallowance under section 14A r.w. Rule 8D, instructed deletion of addition for guarantee commission, dismissed claim for depreciation on advertisement expenses, and remanded the taxability of royalty income from overseas subsidiary for reconsideration under the DTAA between India and Egypt. The Tribunal disposed of cross-appeals by the assessee and Revenue together, applying legal principles and precedents to determine the outcome for the assessment year 2008-09. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273284