https://www.taxtmi.com/caselaws?id=400590 The High Court upheld that the amount advanced to M/s. Hinduja Realtors Pvt. Ltd. was for business purposes and commercial expediency. Regarding the advance to M/s. Hinduja Investments Pvt. Ltd., the matter was remitted for fresh consideration. Disallowance under Section 14A for MAT computation was not allowed. Allocation of common expenses among units was permitted. The set-off of EOU profits against non-EOU losses and brought forward depreciation was also allowed. The appeal was disposed of with the High Court quashing the Tribunal's decision on the advance to M/s. Hinduja Investments Pvt. Ltd. and ruling in favor of the assessee on other issues. en-us Mon, 02 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400590 The High Court upheld that the amount advanced to M/s. Hinduja Realtors Pvt. Ltd. was for business purposes and commercial expediency. Regarding the advance to M/s. Hinduja Investments Pvt. Ltd., the matter was remitted for fresh consideration. Disallowance under Section 14A for MAT computation was not allowed. Allocation of common expenses among units was permitted. The set-off of EOU profits against non-EOU losses and brought forward depreciation was also allowed. The appeal was disposed of with the High Court quashing the Tribunal's decision on the advance to M/s. Hinduja Investments Pvt. Ltd. and ruling in favor of the assessee on other issues. Case-Laws Income Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400590