https://www.taxtmi.com/caselaws?id=405090 The Tribunal partially allowed the appeal, granting relief on various issues such as including recovery/reimbursement of expenses from group companies and sale of scrap in qualifying deductions under sections 10A and 10AA. The Tribunal disagreed with the AO's disallowance of provision for leave encashment and adjustments of foreign travel expenses. Additionally, the Tribunal ruled in favor of not adding back provisions for performance bonus and expenses while computing book profits under section 115JB. It also allowed higher depreciation rates for computers and peripherals. The decision highlighted the importance of meticulous assessment of income and expenses for deduction eligibility and profit computation. en-us Tue, 09 Mar 2021 00:00:00 +0530 Thu, 11 Mar 2021 09:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405090 The Tribunal partially allowed the appeal, granting relief on various issues such as including recovery/reimbursement of expenses from group companies and sale of scrap in qualifying deductions under sections 10A and 10AA. The Tribunal disagreed with the AO's disallowance of provision for leave encashment and adjustments of foreign travel expenses. Additionally, the Tribunal ruled in favor of not adding back provisions for performance bonus and expenses while computing book profits under section 115JB. It also allowed higher depreciation rates for computers and peripherals. The decision highlighted the importance of meticulous assessment of income and expenses for deduction eligibility and profit computation. Case-Laws Income Tax Tue, 09 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405090