https://www.taxtmi.com/caselaws?id=394935 The Tribunal upheld the CIT(A)'s decisions on allowing interest deduction under section 36(1)(iii) and restricting disallowance under section 14A to the exempt income. It directed the AO to consider the original return as timely filed, allowing the revised return's claims and deduction under section 80IB, including on cancellation charges. The Tribunal also accepted the business promotion expenses as fully deductible, emphasizing their legitimacy for boosting sales in a competitive market. en-us Thu, 20 Feb 2020 00:00:00 +0530 Thu, 01 Sep 2022 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394935 The Tribunal upheld the CIT(A)'s decisions on allowing interest deduction under section 36(1)(iii) and restricting disallowance under section 14A to the exempt income. It directed the AO to consider the original return as timely filed, allowing the revised return's claims and deduction under section 80IB, including on cancellation charges. The Tribunal also accepted the business promotion expenses as fully deductible, emphasizing their legitimacy for boosting sales in a competitive market. Case-Laws Income Tax Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394935