https://www.taxtmi.com/caselaws?id=275343 The Tribunal allowed the appeal partly, directing the AO to delete the disallowance under section 14A as no exempt income was generated. Legal and professional fees and stamp duty expenses were considered revenue expenditures. The issue of disallowance under section 40(a)(ia) was remanded for re-examination due to unclear facts. The set-off of business loss was allowed as claimed, and depreciation for hardware expenses was directed to be allowed. No adjustment was made for Fringe Benefit Tax in book profits. Credit for tax deducted at source and advance tax paid was granted in a rectification order. en-us Tue, 21 Nov 2017 00:00:00 +0530 Fri, 28 Sep 2018 07:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275343 The Tribunal allowed the appeal partly, directing the AO to delete the disallowance under section 14A as no exempt income was generated. Legal and professional fees and stamp duty expenses were considered revenue expenditures. The issue of disallowance under section 40(a)(ia) was remanded for re-examination due to unclear facts. The set-off of business loss was allowed as claimed, and depreciation for hardware expenses was directed to be allowed. No adjustment was made for Fringe Benefit Tax in book profits. Credit for tax deducted at source and advance tax paid was granted in a rectification order. Case-Laws Income Tax Tue, 21 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275343