https://www.taxtmi.com/caselaws?id=406905 The Tribunal ruled in favor of the assessee on various issues, including allowing deduction for losses from foreign currency fluctuation, restricting disallowance under Section 14A, permitting non-compete fee as revenue, granting depreciation on leased assets, allowing PwC World Firm charges, and considering non-refundable grant as a capital receipt. The Tribunal directed verification for deduction under Section 35(1)(II) and dismissed the grounds related to short credit of TDS and interest levies. Overall, the appeal of the assessee was partly allowed with specific directions on each issue. en-us Wed, 21 Apr 2021 00:00:00 +0530 Mon, 26 Apr 2021 10:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406905 The Tribunal ruled in favor of the assessee on various issues, including allowing deduction for losses from foreign currency fluctuation, restricting disallowance under Section 14A, permitting non-compete fee as revenue, granting depreciation on leased assets, allowing PwC World Firm charges, and considering non-refundable grant as a capital receipt. The Tribunal directed verification for deduction under Section 35(1)(II) and dismissed the grounds related to short credit of TDS and interest levies. Overall, the appeal of the assessee was partly allowed with specific directions on each issue. Case-Laws Income Tax Wed, 21 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406905