https://www.taxtmi.com/caselaws?id=378938 The Tribunal upheld disallowances under sections 40A(3) and 40(a)(ia) but allowed reimbursements to employees within specified limits. Valuation of work in progress was accepted, disallowance of interest under section 36(1)(iii) was deleted, and disallowance under section 14A was restricted. Adjustments under sections 80IB/IC and transfer pricing were partially allowed. Disallowance of prior period expenses was deleted, foreign exchange fluctuation was deemed capital, and bogus purchases were adjusted for AY 2011-12. Interest under sections 234A, 234B, and 234C was upheld. The Tribunal provided detailed directions resulting in partial relief for the assessee. en-us Thu, 18 Apr 2019 00:00:00 +0530 Thu, 04 Aug 2022 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378938 The Tribunal upheld disallowances under sections 40A(3) and 40(a)(ia) but allowed reimbursements to employees within specified limits. Valuation of work in progress was accepted, disallowance of interest under section 36(1)(iii) was deleted, and disallowance under section 14A was restricted. Adjustments under sections 80IB/IC and transfer pricing were partially allowed. Disallowance of prior period expenses was deleted, foreign exchange fluctuation was deemed capital, and bogus purchases were adjusted for AY 2011-12. Interest under sections 234A, 234B, and 234C was upheld. The Tribunal provided detailed directions resulting in partial relief for the assessee. Case-Laws Income Tax Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378938