https://www.taxtmi.com/caselaws?id=284407 The Tribunal upheld the decisions of the CIT(A) in favor of the assessee in various disputes, including broken period interest, salaries paid to expatriate employees, disallowance of expenses on guest house and holiday home, disallowance of entertainment expenses, exemption of interest earned on tax-free bonds, deferred guarantee commission, disallowance under section 40(a)(i) for non-deduction of TDS, and NRI deposit mobilization expenses. However, the Tribunal restored the issue of fees paid to MasterCard and Visa to the AO for verification and fresh decision. The Tribunal also allowed the claim for payment to Great Eastern Shipping Company Limited as revenue expenditure and the claim for loss on outstanding forward contracts, but disallowed the revenue's appeal regarding disallowance of bonus points on credit cards. en-us Fri, 20 Nov 2015 00:00:00 +0530 Mon, 18 Nov 2019 08:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284407 The Tribunal upheld the decisions of the CIT(A) in favor of the assessee in various disputes, including broken period interest, salaries paid to expatriate employees, disallowance of expenses on guest house and holiday home, disallowance of entertainment expenses, exemption of interest earned on tax-free bonds, deferred guarantee commission, disallowance under section 40(a)(i) for non-deduction of TDS, and NRI deposit mobilization expenses. However, the Tribunal restored the issue of fees paid to MasterCard and Visa to the AO for verification and fresh decision. The Tribunal also allowed the claim for payment to Great Eastern Shipping Company Limited as revenue expenditure and the claim for loss on outstanding forward contracts, but disallowed the revenue's appeal regarding disallowance of bonus points on credit cards. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284407