https://www.taxtmi.com/caselaws?id=397852 The Tribunal partially allowed the appeal, remitting several issues back to the AO for further consideration and verification. The Tribunal ruled in favor of the assessee on AMP expenses, referencing prior decisions. It directed the AO to reassess depreciation on goodwill, income duplication, and education cess deduction, ensuring the assessee's right to a hearing. The Tribunal also instructed the AO to correct the self-assessment tax credit and interest under sections 234A and 234B. The penalty proceedings under section 271(1)(c) were deemed premature and not adjudicated. The Tribunal's decisions aligned with previous rulings and case law, providing a comprehensive resolution. en-us Mon, 27 Jul 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397852 The Tribunal partially allowed the appeal, remitting several issues back to the AO for further consideration and verification. The Tribunal ruled in favor of the assessee on AMP expenses, referencing prior decisions. It directed the AO to reassess depreciation on goodwill, income duplication, and education cess deduction, ensuring the assessee's right to a hearing. The Tribunal also instructed the AO to correct the self-assessment tax credit and interest under sections 234A and 234B. The penalty proceedings under section 271(1)(c) were deemed premature and not adjudicated. The Tribunal's decisions aligned with previous rulings and case law, providing a comprehensive resolution. Case-Laws Income Tax Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397852