https://www.taxtmi.com/caselaws?id=390604 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. It upheld the deletion of interest disallowance under Rule 8D(ii) due to sufficient own funds covering investments. The disallowance under Section 115JB was restricted, depreciation disallowance upheld, disallowance under Section 14A remitted for administrative expenses review, and disallowance under Section 80-IB granted for sale proceeds of packing materials. Share buyback expenses were allowed under Section 37(1) as revenue expenses. The decision stressed substance over form in tax matters and harmonious interpretation of tax provisions. en-us Fri, 20 Dec 2019 00:00:00 +0530 Mon, 09 Aug 2021 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390604 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. It upheld the deletion of interest disallowance under Rule 8D(ii) due to sufficient own funds covering investments. The disallowance under Section 115JB was restricted, depreciation disallowance upheld, disallowance under Section 14A remitted for administrative expenses review, and disallowance under Section 80-IB granted for sale proceeds of packing materials. Share buyback expenses were allowed under Section 37(1) as revenue expenses. The decision stressed substance over form in tax matters and harmonious interpretation of tax provisions. Case-Laws Income Tax Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390604