https://www.taxtmi.com/caselaws?id=400723 The Tribunal partly allowed the appeal of the assessee, granting relief on most grounds except for the excess provision of bad debts issue, which was remanded for further verification. The Tribunal held in favor of the assessee on various issues including disallowance under section 40(a)(i) for payments to foreign entities, provision for sales incentive under the Shahenshah Sales Incentive Scheme, adjustment of earlier years' losses for deduction under section 80IC, taxability of foreign exchange gain on redemption of shares, and deduction of education cess and secondary higher education cess. en-us Tue, 10 Nov 2020 00:00:00 +0530 Tue, 17 Nov 2020 11:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400723 The Tribunal partly allowed the appeal of the assessee, granting relief on most grounds except for the excess provision of bad debts issue, which was remanded for further verification. The Tribunal held in favor of the assessee on various issues including disallowance under section 40(a)(i) for payments to foreign entities, provision for sales incentive under the Shahenshah Sales Incentive Scheme, adjustment of earlier years' losses for deduction under section 80IC, taxability of foreign exchange gain on redemption of shares, and deduction of education cess and secondary higher education cess. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400723