https://www.taxtmi.com/caselaws?id=398891 The Tribunal dismissed the challenge to the assessment order's validity due to limitation, citing precedent. Regarding transfer pricing adjustments, the Tribunal directed reexamination with stronger evidence. Disallowance under Section 14A was deleted due to investment source. Additional depreciation claims were allowed for production activities. The balance 50% additional depreciation claim was denied. Deduction under Section 32AC was allowed for specified activities. Out-of-books receivables addition was remanded for verification. CSR expenditure disallowance was upheld. Liquidated damages were treated as capital receipts. Brought forward losses set-off was allowed. MAT provisions adjustments were deleted. Deduction under Section 80GGB was directed to be allowed upon verification. Appeal partially allowed. en-us Mon, 21 Sep 2020 00:00:00 +0530 Mon, 28 Dec 2020 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398891 The Tribunal dismissed the challenge to the assessment order's validity due to limitation, citing precedent. Regarding transfer pricing adjustments, the Tribunal directed reexamination with stronger evidence. Disallowance under Section 14A was deleted due to investment source. Additional depreciation claims were allowed for production activities. The balance 50% additional depreciation claim was denied. Deduction under Section 32AC was allowed for specified activities. Out-of-books receivables addition was remanded for verification. CSR expenditure disallowance was upheld. Liquidated damages were treated as capital receipts. Brought forward losses set-off was allowed. MAT provisions adjustments were deleted. Deduction under Section 80GGB was directed to be allowed upon verification. Appeal partially allowed. Case-Laws Income Tax Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398891