https://www.taxtmi.com/caselaws?id=396151 The Tribunal upheld the disallowance under Section 35DD, agreeing that the deduction for demerger expenses is only allowed to the parent company, not the resultant company. For Section 14A, the Tribunal deleted the disallowance of interest expenditure and directed the AO to restrict administrative expense disallowance. The issue of bad debts was remanded back to the CIT(A) for fresh consideration. The deduction under Section 10B was allowed, as separate books of accounts were not mandatory. The one-time lease rental charges were partially allowed as revenue expenditure, with the balance treated as advance rent. The Tribunal delivered a consolidated judgment for both assessment years, maintaining consistency in its findings. en-us Tue, 28 Jan 2020 00:00:00 +0530 Wed, 24 Jun 2020 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396151 The Tribunal upheld the disallowance under Section 35DD, agreeing that the deduction for demerger expenses is only allowed to the parent company, not the resultant company. For Section 14A, the Tribunal deleted the disallowance of interest expenditure and directed the AO to restrict administrative expense disallowance. The issue of bad debts was remanded back to the CIT(A) for fresh consideration. The deduction under Section 10B was allowed, as separate books of accounts were not mandatory. The one-time lease rental charges were partially allowed as revenue expenditure, with the balance treated as advance rent. The Tribunal delivered a consolidated judgment for both assessment years, maintaining consistency in its findings. Case-Laws Income Tax Tue, 28 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396151