https://www.taxtmi.com/caselaws?id=280232 The court upheld the Income Tax Appellate Tribunal's decision on various grounds. The disallowance of interest expenses under section 14A was deleted due to lack of proof by the Assessing Officer. Additional depreciation was allowed for a new production line, with no challenge to this finding. Royalty disallowance was upheld as a recurring business expenditure. The Arm's Length Price adjustment was deleted for lack of contrary evidence. Prior period expenses were reduced following the High Court's decision. Pending questions involving disallowances and provisions were admitted for future consideration. en-us Tue, 07 Oct 2014 00:00:00 +0530 Fri, 26 Apr 2019 08:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280232 The court upheld the Income Tax Appellate Tribunal's decision on various grounds. The disallowance of interest expenses under section 14A was deleted due to lack of proof by the Assessing Officer. Additional depreciation was allowed for a new production line, with no challenge to this finding. Royalty disallowance was upheld as a recurring business expenditure. The Arm's Length Price adjustment was deleted for lack of contrary evidence. Prior period expenses were reduced following the High Court's decision. Pending questions involving disallowances and provisions were admitted for future consideration. Case-Laws Income Tax Tue, 07 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280232