https://www.taxtmi.com/caselaws?id=397182 The Tribunal ruled in favor of the assessee on most issues, allowing the set-off of an amount against pre-operative expenditure, deleting disallowance under Section 14A due to no exempt income earned, directing verification and correct classification of share issue expenses, permitting amortization of certain expenses, allowing revenue expenditure for aborted IPO expenses, directing verification of interest payable, allowing depreciation on Toll Buildings, and permitting socio-economic expenses as revenue expenditure for HIV-AIDS awareness programs. The Tribunal emphasized consistency with prior rulings and relevant judicial precedents in disposing of the appeals. en-us Fri, 31 Jul 2020 00:00:00 +0530 Fri, 07 Aug 2020 07:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397182 The Tribunal ruled in favor of the assessee on most issues, allowing the set-off of an amount against pre-operative expenditure, deleting disallowance under Section 14A due to no exempt income earned, directing verification and correct classification of share issue expenses, permitting amortization of certain expenses, allowing revenue expenditure for aborted IPO expenses, directing verification of interest payable, allowing depreciation on Toll Buildings, and permitting socio-economic expenses as revenue expenditure for HIV-AIDS awareness programs. The Tribunal emphasized consistency with prior rulings and relevant judicial precedents in disposing of the appeals. Case-Laws Income Tax Fri, 31 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397182