https://www.taxtmi.com/caselaws?id=369432 The Tribunal partially allowed the appeal of the assessee, directing the Assessing Officer to re-verify and re-compute various disallowances and adjustments. The Tribunal emphasized principles of judicial consistency and directed the re-computation of disallowances under Sections 43B and 14A of the Income Tax Act. It held that sales tax subsidy was a capital receipt not liable to tax, allowed royalty payments as revenue expenditure, permitted CSR expenditure as a business deduction, and club membership fees as allowable under Section 37(1) of the Act. Transfer pricing adjustments were deleted, and interest computation under Sections 234B and 234C was to be recomputed based on specified methods. en-us Wed, 17 Oct 2018 00:00:00 +0530 Thu, 27 Dec 2018 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369432 The Tribunal partially allowed the appeal of the assessee, directing the Assessing Officer to re-verify and re-compute various disallowances and adjustments. The Tribunal emphasized principles of judicial consistency and directed the re-computation of disallowances under Sections 43B and 14A of the Income Tax Act. It held that sales tax subsidy was a capital receipt not liable to tax, allowed royalty payments as revenue expenditure, permitted CSR expenditure as a business deduction, and club membership fees as allowable under Section 37(1) of the Act. Transfer pricing adjustments were deleted, and interest computation under Sections 234B and 234C was to be recomputed based on specified methods. Case-Laws Income Tax Wed, 17 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369432