https://www.taxtmi.com/caselaws?id=292196 The Revenue's appeal was dismissed regarding disallowance under section 14A of the Income Tax Act, with the assessee's cross objection partially allowed. Adjustments in book profit under Section 115JB were not permitted based on judicial precedents. The disallowance of additional depreciation for specific assets was ruled in favor of the assessee. The treatment of interest subsidy under the Technology Upgradation Fund Scheme as a capital receipt was accepted, directing further verification by the Assessing Officer. The Tribunal's detailed analysis and rulings favored the assessee, leading to the dismissal of the Revenue's appeal and partial allowance of the cross objection. en-us Wed, 20 Feb 2019 00:00:00 +0530 Fri, 11 Dec 2020 12:00:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292196 The Revenue's appeal was dismissed regarding disallowance under section 14A of the Income Tax Act, with the assessee's cross objection partially allowed. Adjustments in book profit under Section 115JB were not permitted based on judicial precedents. The disallowance of additional depreciation for specific assets was ruled in favor of the assessee. The treatment of interest subsidy under the Technology Upgradation Fund Scheme as a capital receipt was accepted, directing further verification by the Assessing Officer. The Tribunal's detailed analysis and rulings favored the assessee, leading to the dismissal of the Revenue's appeal and partial allowance of the cross objection. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292196