https://www.taxtmi.com/caselaws?id=395672 The Tribunal upheld the decision allowing the assessee's claim for set off/adjustment and carry forward of accumulated losses and unabsorbed depreciation from the demerged company. The disallowance under Section 14A was to be recalculated, excluding strategic investments but considering only those generating exempt income. The disallowance of rent expenses was reduced to Rs. 2,16,000 due to non-deduction of TDS, with the remaining expenses deemed as legitimate business expenditure. The revenue's appeal was partially allowed for statistical purposes to reassess the disallowance under Section 14A. en-us Fri, 22 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395672 The Tribunal upheld the decision allowing the assessee's claim for set off/adjustment and carry forward of accumulated losses and unabsorbed depreciation from the demerged company. The disallowance under Section 14A was to be recalculated, excluding strategic investments but considering only those generating exempt income. The disallowance of rent expenses was reduced to Rs. 2,16,000 due to non-deduction of TDS, with the remaining expenses deemed as legitimate business expenditure. The revenue's appeal was partially allowed for statistical purposes to reassess the disallowance under Section 14A. Case-Laws Income Tax Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395672