https://www.taxtmi.com/caselaws?id=402813 The Tribunal dismissed the revenue's appeals and partly allowed the assessee's appeals, upholding the CIT(A)'s decisions on various issues. The Tribunal ruled in favor of the assessee on several key matters, including the deletion of additions related to income from investment in a free zone entity, disallowance under Section 35D, burning loss, product warranty expenses under Section 115JB, excess depreciation on vehicles, and adjustments on international transactions. Additionally, the Tribunal upheld the deletion of TP adjustment for corporate guarantees and unutilized CENVAT credit, while allowing higher depreciation on electrical fittings. The Tribunal also confirmed the levy of interest under Section 234B. en-us Mon, 04 Jan 2021 00:00:00 +0530 Tue, 12 Jan 2021 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402813 The Tribunal dismissed the revenue's appeals and partly allowed the assessee's appeals, upholding the CIT(A)'s decisions on various issues. The Tribunal ruled in favor of the assessee on several key matters, including the deletion of additions related to income from investment in a free zone entity, disallowance under Section 35D, burning loss, product warranty expenses under Section 115JB, excess depreciation on vehicles, and adjustments on international transactions. Additionally, the Tribunal upheld the deletion of TP adjustment for corporate guarantees and unutilized CENVAT credit, while allowing higher depreciation on electrical fittings. The Tribunal also confirmed the levy of interest under Section 234B. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402813