https://www.taxtmi.com/caselaws?id=292051 The Tribunal dismissed the Revenue's appeal regarding advertisement expenditure deduction, allowing the entire amount in the current year. The Tribunal upheld the depreciation on trucks and deduction under Section 80HHC for the Marine Division. The Tribunal also dismissed the Revenue's appeal on net interest consideration and fees for an increase in authorized capital. The assessee's appeals on entertainment expenses, unexplained payments, and interest disallowances were allowed. The Tribunal partially allowed the appeals on provisions of Section 69C, disallowance under Section 43B, loss on investments, payments to clubs, interest given, and disallowance of interest. The Tribunal directed the AO to include share premium for deduction and exempted interest under Sections 234A & 234B due to retrospective amendments. en-us Wed, 19 Mar 2014 00:00:00 +0530 Sat, 05 Dec 2020 12:12:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292051 The Tribunal dismissed the Revenue's appeal regarding advertisement expenditure deduction, allowing the entire amount in the current year. The Tribunal upheld the depreciation on trucks and deduction under Section 80HHC for the Marine Division. The Tribunal also dismissed the Revenue's appeal on net interest consideration and fees for an increase in authorized capital. The assessee's appeals on entertainment expenses, unexplained payments, and interest disallowances were allowed. The Tribunal partially allowed the appeals on provisions of Section 69C, disallowance under Section 43B, loss on investments, payments to clubs, interest given, and disallowance of interest. The Tribunal directed the AO to include share premium for deduction and exempted interest under Sections 234A & 234B due to retrospective amendments. Case-Laws Income Tax Wed, 19 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292051