https://www.taxtmi.com/caselaws?id=376778 The Tribunal partly allowed both appeals, directing the Assessing Officer (AO) to conduct a fresh assessment on specific issues. The disallowance under Section 14A was contested, with the Tribunal instructing the AO to exclude certain investments and not add the disallowance to book profits under Section 115JB. The deduction under Section 80-IB(9) was referred back to the AO for reconsideration in light of relevant court judgments. Additionally, the disallowance of obsolete store and spares was overturned, allowing the deduction. The Tribunal stressed the importance of proper application of legal principles in resolving the issues. en-us Fri, 08 Mar 2019 00:00:00 +0530 Mon, 01 Jul 2019 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376778 The Tribunal partly allowed both appeals, directing the Assessing Officer (AO) to conduct a fresh assessment on specific issues. The disallowance under Section 14A was contested, with the Tribunal instructing the AO to exclude certain investments and not add the disallowance to book profits under Section 115JB. The deduction under Section 80-IB(9) was referred back to the AO for reconsideration in light of relevant court judgments. Additionally, the disallowance of obsolete store and spares was overturned, allowing the deduction. The Tribunal stressed the importance of proper application of legal principles in resolving the issues. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376778