https://www.taxtmi.com/caselaws?id=379683 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's appeals. It upheld the allowance of depreciation on non-compete fee as an intangible asset, deletion of disallowance of interest on borrowed funds for business purposes, and disallowance of interest on interest-free loans to sister concerns and directors. The Tribunal also confirmed the deduction for employees' contribution to provident fund and pension fund and upheld transfer pricing adjustments on marketing fee, interest on interest-free loans, and corporate guarantee commission. Additionally, it upheld the deletion of provisions for doubtful debts and non-moving/obsolete inventory under section 115JB. en-us Tue, 30 Apr 2019 00:00:00 +0530 Mon, 06 May 2019 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379683 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's appeals. It upheld the allowance of depreciation on non-compete fee as an intangible asset, deletion of disallowance of interest on borrowed funds for business purposes, and disallowance of interest on interest-free loans to sister concerns and directors. The Tribunal also confirmed the deduction for employees' contribution to provident fund and pension fund and upheld transfer pricing adjustments on marketing fee, interest on interest-free loans, and corporate guarantee commission. Additionally, it upheld the deletion of provisions for doubtful debts and non-moving/obsolete inventory under section 115JB. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379683