https://www.taxtmi.com/caselaws?id=400515 The ITAT dismissed the Revenue's appeal on all grounds. It upheld the CIT(A)'s decisions regarding disallowances of product development expenses, foreign commission, interest under section 40A(2)(b), and capitalization of interest under section 36(i)(iii). The ITAT emphasized consistency with past decisions and legal principles, including the requirement for tax deductions only if payments are taxable in India and the absence of evidence for disallowed claims. The rulings favored the assessee, affirming the factual correctness of expenses and the availability of interest-free funds. en-us Wed, 23 Sep 2020 00:00:00 +0530 Tue, 05 Nov 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400515 The ITAT dismissed the Revenue's appeal on all grounds. It upheld the CIT(A)'s decisions regarding disallowances of product development expenses, foreign commission, interest under section 40A(2)(b), and capitalization of interest under section 36(i)(iii). The ITAT emphasized consistency with past decisions and legal principles, including the requirement for tax deductions only if payments are taxable in India and the absence of evidence for disallowed claims. The rulings favored the assessee, affirming the factual correctness of expenses and the availability of interest-free funds. Case-Laws Income Tax Wed, 23 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400515