https://www.taxtmi.com/caselaws?id=284935 The Tribunal ruled in favor of the assessee, allowing the losses of Rs. 209.99 crores and Rs. 119.55 crores for AY 2008-09 and 2009-10, respectively, regarding the fall in value of investments held as stock-in-trade. The Tribunal also upheld the CIT(A)'s decision to reduce disallowances under Section 14A of the Income Tax Act, 1961, for the respective years. Other issues such as expenditure on software, depreciation on LAN/WAN equipment, 100% depreciation on temporary wooden structures, and interest on overdue deposits were remanded for further verification by the AO. Both parties' appeals were partly allowed based on legal precedents and factual analysis. en-us Tue, 27 Dec 2016 00:00:00 +0530 Wed, 18 Dec 2019 10:01:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284935 The Tribunal ruled in favor of the assessee, allowing the losses of Rs. 209.99 crores and Rs. 119.55 crores for AY 2008-09 and 2009-10, respectively, regarding the fall in value of investments held as stock-in-trade. The Tribunal also upheld the CIT(A)'s decision to reduce disallowances under Section 14A of the Income Tax Act, 1961, for the respective years. Other issues such as expenditure on software, depreciation on LAN/WAN equipment, 100% depreciation on temporary wooden structures, and interest on overdue deposits were remanded for further verification by the AO. Both parties' appeals were partly allowed based on legal precedents and factual analysis. Case-Laws Income Tax Tue, 27 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284935