https://www.taxtmi.com/caselaws?id=292294 The Tribunal dismissed the Revenue's appeals on various issues related to income tax assessments. The disallowance of expenses on the issue of Foreign Currency Convertible Bond and interpretation of Double Taxation Avoidance Agreement were decided in favor of the Respondent-Assessee based on previous court decisions. Additionally, the Tribunal upheld the restriction of disallowance under Section 14A of the Income Tax Act to 5% of exempt income, aligning with the Supreme Court's ruling. The appeals were admitted on reframed substantial questions of law for further proceedings. en-us Mon, 26 Aug 2019 00:00:00 +0530 Fri, 18 Dec 2020 02:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292294 The Tribunal dismissed the Revenue's appeals on various issues related to income tax assessments. The disallowance of expenses on the issue of Foreign Currency Convertible Bond and interpretation of Double Taxation Avoidance Agreement were decided in favor of the Respondent-Assessee based on previous court decisions. Additionally, the Tribunal upheld the restriction of disallowance under Section 14A of the Income Tax Act to 5% of exempt income, aligning with the Supreme Court's ruling. The appeals were admitted on reframed substantial questions of law for further proceedings. Case-Laws Income Tax Mon, 26 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292294