https://www.taxtmi.com/caselaws?id=405382 The ITAT ruled in favor of the assessee on all issues. The deduction under Section 35(2AB) was remanded to the AO for reconsideration due to procedural lapses. The tribunal allowed the deduction of Education Cess as a business expenditure under Section 37. Additionally, the FPS incentive was classified as a capital receipt, aligning with the assessee's claim. en-us Tue, 02 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405382 The ITAT ruled in favor of the assessee on all issues. The deduction under Section 35(2AB) was remanded to the AO for reconsideration due to procedural lapses. The tribunal allowed the deduction of Education Cess as a business expenditure under Section 37. Additionally, the FPS incentive was classified as a capital receipt, aligning with the assessee's claim. Case-Laws Income Tax Tue, 02 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405382