https://www.taxtmi.com/caselaws?id=389776 The Tribunal partly allowed both the Revenue and the assessee's appeals in a case involving disallowances under Sections 14A and 115JB of the Income Tax Act. The Tribunal provided specific guidance on handling disallowances related to interest and administrative expenses, clarified the treatment of professional fees received but not shown as income, and addressed the disallowance of development expenses by directing adjustments to the closing inventory value to prevent profit enhancement. The decision aimed to ensure compliance with legal precedents and avoid instances of double taxation. en-us Wed, 16 Oct 2019 00:00:00 +0530 Tue, 17 Dec 2019 14:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389776 The Tribunal partly allowed both the Revenue and the assessee's appeals in a case involving disallowances under Sections 14A and 115JB of the Income Tax Act. The Tribunal provided specific guidance on handling disallowances related to interest and administrative expenses, clarified the treatment of professional fees received but not shown as income, and addressed the disallowance of development expenses by directing adjustments to the closing inventory value to prevent profit enhancement. The decision aimed to ensure compliance with legal precedents and avoid instances of double taxation. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389776