https://www.taxtmi.com/caselaws?id=291540 The Tribunal ruled in favor of the assessee, setting aside the reduction in deduction under Section 80IA, allowing the deduction for Rail Universal Beam Mill under Section 80IB, directing verification for the deduction of ESOS expenditure, restricting disallowance under Section 14A, allowing depreciation on non-functional units, upholding disallowance of employee welfare expenses, disallowing lease rent as capital expenditure but allowing depreciation, deleting disallowance of aircraft expenses, remanding foreign travel expenses for fresh adjudication, partially deleting disallowance of business promotion expenses, remanding transfer pricing adjustments, deleting adjustment on corporate guarantee, directing verification and allowance of MAT credit, providing consequential relief for interest under Section 234B, and remanding additional grounds for adjudication. en-us Mon, 29 Apr 2019 00:00:00 +0530 Tue, 17 Nov 2020 11:14:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291540 The Tribunal ruled in favor of the assessee, setting aside the reduction in deduction under Section 80IA, allowing the deduction for Rail Universal Beam Mill under Section 80IB, directing verification for the deduction of ESOS expenditure, restricting disallowance under Section 14A, allowing depreciation on non-functional units, upholding disallowance of employee welfare expenses, disallowing lease rent as capital expenditure but allowing depreciation, deleting disallowance of aircraft expenses, remanding foreign travel expenses for fresh adjudication, partially deleting disallowance of business promotion expenses, remanding transfer pricing adjustments, deleting adjustment on corporate guarantee, directing verification and allowance of MAT credit, providing consequential relief for interest under Section 234B, and remanding additional grounds for adjudication. Case-Laws Income Tax Mon, 29 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291540