https://www.taxtmi.com/caselaws?id=395801 The Tribunal upheld the AO's disallowance of depreciation on leasehold land, ruling it ineligible as an intangible asset. It remitted the closing stock valuation issue for fresh adjudication, dismissed the CSR expenses claim, and directed deletion of disallowed CMPDIL expenses. The Tribunal restored the Section 14A disallowance and short credit of TDS issues for re-examination, while affirming the taxability of interest on income tax refunds. The decision emphasized adherence to consistent accounting policies and proper justification for claims. en-us Fri, 05 Jun 2020 00:00:00 +0530 Wed, 06 Nov 2024 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395801 The Tribunal upheld the AO's disallowance of depreciation on leasehold land, ruling it ineligible as an intangible asset. It remitted the closing stock valuation issue for fresh adjudication, dismissed the CSR expenses claim, and directed deletion of disallowed CMPDIL expenses. The Tribunal restored the Section 14A disallowance and short credit of TDS issues for re-examination, while affirming the taxability of interest on income tax refunds. The decision emphasized adherence to consistent accounting policies and proper justification for claims. Case-Laws Income Tax Fri, 05 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395801