https://www.taxtmi.com/caselaws?id=275612 The Tribunal provided partial relief to the assessee by reducing the disallowance under Section 14A to Rs. 35 lacs, ruling that no disallowance on account of interest expenditure was warranted. However, the claim for deduction of Rs. 30 crores contributed to GSEDS was denied as it was not considered a charge against profit. The disallowance of Rs. 82.74 lacs for renovation and modernization expenses was allowed as it was deemed to be incurred out of commercial expediency. The Tribunal upheld the decision on depreciation of leased assets, consistent with previous assessments for the years 2008-09, 2009-10, and 2010-11. en-us Fri, 06 Apr 2018 00:00:00 +0530 Wed, 10 Oct 2018 09:06:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275612 The Tribunal provided partial relief to the assessee by reducing the disallowance under Section 14A to Rs. 35 lacs, ruling that no disallowance on account of interest expenditure was warranted. However, the claim for deduction of Rs. 30 crores contributed to GSEDS was denied as it was not considered a charge against profit. The disallowance of Rs. 82.74 lacs for renovation and modernization expenses was allowed as it was deemed to be incurred out of commercial expediency. The Tribunal upheld the decision on depreciation of leased assets, consistent with previous assessments for the years 2008-09, 2009-10, and 2010-11. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275612