https://www.taxtmi.com/caselaws?id=408988 The Tribunal allowed the appeals of the assessee for all assessment years involved, vacating the disallowances of depreciation on goodwill, ad hoc disallowance of staff welfare expenses, and commission payments. The Tribunal directed the A.O. to grant credit for tax deducted at source and self-assessment tax, and to recompute interest under relevant sections. The Tribunal dismissed the initiation of penalty proceedings as premature, emphasizing the lack of justification for the disallowances and substantial compliance by the assessee. en-us Mon, 07 Jun 2021 00:00:00 +0530 Sat, 26 Jun 2021 07:51:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408988 The Tribunal allowed the appeals of the assessee for all assessment years involved, vacating the disallowances of depreciation on goodwill, ad hoc disallowance of staff welfare expenses, and commission payments. The Tribunal directed the A.O. to grant credit for tax deducted at source and self-assessment tax, and to recompute interest under relevant sections. The Tribunal dismissed the initiation of penalty proceedings as premature, emphasizing the lack of justification for the disallowances and substantial compliance by the assessee. Case-Laws Income Tax Mon, 07 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408988