https://www.taxtmi.com/caselaws?id=282166 1. The Tribunal upheld the disallowance of expenditure attributable to earning tax-free income, restricting it to 2.5% of exempt income.2. The Tribunal upheld the denial of deduction for the loss of a subsidiary company due to lack of commercial expediency.3. The Tribunal upheld the disallowance of amortized premium on leasehold land as capital expenditure.4. The Tribunal allowed the Assessee's appeal regarding the addition made to contract income.5. The Tribunal upheld the remittance of computer software expenses issue back to the AO for fresh consideration.6. The Tribunal partly allowed the Assessee's appeal on higher depreciation claims for certain machinery.7. The Tribunal remitted the disallowance of prior period expenses issue back to the AO for verification.8. The Tribunal directed the AO to allow the balance loss on embezzlement recognized as allowable.9. The Tribunal deleted adhoc disallowances of various expenses, especially vehicle expenses.10. The Tribunal adjudicated various aspects of computation and eligibility of deduction under Section 80HHC.11. The Tribunal remitted the accrual and taxation of lease rent income issue back for fresh consideration.12. The Tribunal followed earlier decisions favoring the Assessee's application of Accounting Standard 7.13. The Tribunal upheld the allowance of deduction under Section 80IA.14. The Tribunal dismissed the Assessee's ground regarding the charging of interest under Section 234D. en-us Thu, 30 Nov 2017 00:00:00 +0530 Wed, 24 Jul 2019 20:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282166 1. The Tribunal upheld the disallowance of expenditure attributable to earning tax-free income, restricting it to 2.5% of exempt income.2. The Tribunal upheld the denial of deduction for the loss of a subsidiary company due to lack of commercial expediency.3. The Tribunal upheld the disallowance of amortized premium on leasehold land as capital expenditure.4. The Tribunal allowed the Assessee's appeal regarding the addition made to contract income.5. The Tribunal upheld the remittance of computer software expenses issue back to the AO for fresh consideration.6. The Tribunal partly allowed the Assessee's appeal on higher depreciation claims for certain machinery.7. The Tribunal remitted the disallowance of prior period expenses issue back to the AO for verification.8. The Tribunal directed the AO to allow the balance loss on embezzlement recognized as allowable.9. The Tribunal deleted adhoc disallowances of various expenses, especially vehicle expenses.10. The Tribunal adjudicated various aspects of computation and eligibility of deduction under Section 80HHC.11. The Tribunal remitted the accrual and taxation of lease rent income issue back for fresh consideration.12. The Tribunal followed earlier decisions favoring the Assessee's application of Accounting Standard 7.13. The Tribunal upheld the allowance of deduction under Section 80IA.14. The Tribunal dismissed the Assessee's ground regarding the charging of interest under Section 234D. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282166