https://www.taxtmi.com/caselaws?id=278337 The Tribunal upheld the deletion of additions under Section 14A, disallowance of depreciation on cars, and Section 145A on unutilized CENVAT Credit. The decisions were based on legal precedents and specific case facts, emphasizing the necessity of actual exempt income for Section 14A disallowances, validity of depreciation claims without vehicle registration in the company's name, and consideration of overall tax neutrality for adjustments under Section 145A. The revenue's appeal was dismissed, affirming the CIT(A)'s rulings on all three issues. en-us Sun, 24 Jan 2016 00:00:00 +0530 Sat, 26 Jan 2019 09:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278337 The Tribunal upheld the deletion of additions under Section 14A, disallowance of depreciation on cars, and Section 145A on unutilized CENVAT Credit. The decisions were based on legal precedents and specific case facts, emphasizing the necessity of actual exempt income for Section 14A disallowances, validity of depreciation claims without vehicle registration in the company's name, and consideration of overall tax neutrality for adjustments under Section 145A. The revenue's appeal was dismissed, affirming the CIT(A)'s rulings on all three issues. Case-Laws Income Tax Sun, 24 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278337