https://www.taxtmi.com/caselaws?id=292037 The Tribunal upheld the assessee's stand on the computation of windmill business profits under section 80IA(5) of the Income Tax Act, 1961, directing the AO to re-compute the deduction. The sales tax incentive was held not to qualify for deduction under section 80IA. The Tribunal affirmed the disallowance of indirect expenses from windmill business profits and directed a re-calculation. The matter of disallowance under section 14A was remanded for fresh determination. The disallowance of foreign travel expenditure was restricted to 50%. The appeals for AY 2008-09 were partly allowed, with decisions applying to AY 2004-05 and 2005-06. en-us Mon, 30 Dec 2013 00:00:00 +0530 Fri, 04 Dec 2020 18:00:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292037 The Tribunal upheld the assessee's stand on the computation of windmill business profits under section 80IA(5) of the Income Tax Act, 1961, directing the AO to re-compute the deduction. The sales tax incentive was held not to qualify for deduction under section 80IA. The Tribunal affirmed the disallowance of indirect expenses from windmill business profits and directed a re-calculation. The matter of disallowance under section 14A was remanded for fresh determination. The disallowance of foreign travel expenditure was restricted to 50%. The appeals for AY 2008-09 were partly allowed, with decisions applying to AY 2004-05 and 2005-06. Case-Laws Income Tax Mon, 30 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292037