https://www.taxtmi.com/caselaws?id=291569 The Tribunal directed the Assessing Officer to delete the addition made due to a mismatch of AIR data with the Assessee's accounts. The Tribunal upheld the classification of interest income from fixed deposits and deposits with MIDC/MSEB as income from other sources. It allowed the write-off of creditors' balances as revenue expenditure and clarified that Section 41(1) did not apply. The issue of disallowance of infrastructure service management fees and smart SMS fees was remanded for further examination. The Tribunal directed the AO to verify prior period expenses and partially allowed the classification of various income sources. It upheld the classification of expenditures on repairs and maintenance as revenue expenditure and ruled in favor of allowing depreciation on the Ambernath Unit. en-us Mon, 24 Apr 2017 00:00:00 +0530 Wed, 18 Nov 2020 09:23:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291569 The Tribunal directed the Assessing Officer to delete the addition made due to a mismatch of AIR data with the Assessee's accounts. The Tribunal upheld the classification of interest income from fixed deposits and deposits with MIDC/MSEB as income from other sources. It allowed the write-off of creditors' balances as revenue expenditure and clarified that Section 41(1) did not apply. The issue of disallowance of infrastructure service management fees and smart SMS fees was remanded for further examination. The Tribunal directed the AO to verify prior period expenses and partially allowed the classification of various income sources. It upheld the classification of expenditures on repairs and maintenance as revenue expenditure and ruled in favor of allowing depreciation on the Ambernath Unit. Case-Laws Income Tax Mon, 24 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291569