https://www.taxtmi.com/caselaws?id=376672 The Tribunal upheld the CIT(A)'s decision to disallow prior period expenses due to lack of adequate documentation. Disallowance under Section 14A was reduced by excluding personal expenses. Inventory and investments written off were disallowed for failure to prove market value or transfer/sell investments. Disallowances of premium on SPNs, upfront fees to banks, and various other expenses were deleted, supported by relevant case law and evidence. Overall, the Tribunal favored the assessee by upholding deletions of disallowances, citing consistency with previous decisions and strong evidence presented. en-us Wed, 06 Mar 2019 00:00:00 +0530 Sat, 09 Mar 2019 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376672 The Tribunal upheld the CIT(A)'s decision to disallow prior period expenses due to lack of adequate documentation. Disallowance under Section 14A was reduced by excluding personal expenses. Inventory and investments written off were disallowed for failure to prove market value or transfer/sell investments. Disallowances of premium on SPNs, upfront fees to banks, and various other expenses were deleted, supported by relevant case law and evidence. Overall, the Tribunal favored the assessee by upholding deletions of disallowances, citing consistency with previous decisions and strong evidence presented. Case-Laws Income Tax Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376672