https://www.taxtmi.com/caselaws?id=391972 The Tribunal ruled in favor of the assessee, holding that the addition of Rs. 9,46,73,015/- representing discount on buy-back of FCCB was a capital receipt and not taxable. The disallowance of business expenditure under section 40(a)(ia) was remanded back to the AO for fresh adjudication. The specific disallowance under section 194C read with section 40(a)(ia) was dismissed as infructuous. en-us Mon, 13 Jan 2020 00:00:00 +0530 Tue, 11 Feb 2020 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391972 The Tribunal ruled in favor of the assessee, holding that the addition of Rs. 9,46,73,015/- representing discount on buy-back of FCCB was a capital receipt and not taxable. The disallowance of business expenditure under section 40(a)(ia) was remanded back to the AO for fresh adjudication. The specific disallowance under section 194C read with section 40(a)(ia) was dismissed as infructuous. Case-Laws Income Tax Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391972