https://www.taxtmi.com/caselaws?id=403892 The High Court dismissed the appeal, upholding the lower authorities' decisions. The appellant's claim for amortization of expenditure under Section 35D was limited based on capital employed. The disallowance of estimated general expenses lacked sufficient grounds. The disallowance of interest expenditure was overturned as legitimate business necessity. Information processing charges were deemed essential for daily operations. The Court found no legal basis to interfere with the lower authorities' rulings, resulting in the dismissal of the Tax Case Appeal without costs. en-us Fri, 05 Feb 2021 00:00:00 +0530 Wed, 10 Feb 2021 09:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403892 The High Court dismissed the appeal, upholding the lower authorities' decisions. The appellant's claim for amortization of expenditure under Section 35D was limited based on capital employed. The disallowance of estimated general expenses lacked sufficient grounds. The disallowance of interest expenditure was overturned as legitimate business necessity. Information processing charges were deemed essential for daily operations. The Court found no legal basis to interfere with the lower authorities' rulings, resulting in the dismissal of the Tax Case Appeal without costs. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403892