https://www.taxtmi.com/caselaws?id=378659 The appeal was partly allowed with significant deletions in disallowances related to leasehold repairs, prior period expenses, and a substantial portion of the disallowance under section 14A. The disallowance on account of interest paid to M/s. Talbros Automotive Components Ltd. was upheld. The Tribunal found expenses for leasehold improvements were revenue in nature, aligning with the business requirements of the Assessee, and allowed them as business expenses. The disallowance on prior period expenses was deleted as the liability was crystallized during the current year. The disallowance under section 14A was partly allowed, with a significant reduction in disallowance for interest. en-us Thu, 07 Feb 2019 00:00:00 +0530 Tue, 16 Apr 2019 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378659 The appeal was partly allowed with significant deletions in disallowances related to leasehold repairs, prior period expenses, and a substantial portion of the disallowance under section 14A. The disallowance on account of interest paid to M/s. Talbros Automotive Components Ltd. was upheld. The Tribunal found expenses for leasehold improvements were revenue in nature, aligning with the business requirements of the Assessee, and allowed them as business expenses. The disallowance on prior period expenses was deleted as the liability was crystallized during the current year. The disallowance under section 14A was partly allowed, with a significant reduction in disallowance for interest. Case-Laws Income Tax Thu, 07 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378659