https://www.taxtmi.com/caselaws?id=296653 The Tribunal partly allowed the appellant's appeal, deleting the disallowance of depreciation but confirming the disallowance of other expenses based on the application of section 14A of the Income Tax Act, 1961. The Special Bench clarified that share income from the firm is excluded from the partner's total income, justifying the disallowance under section 14A. The judgment emphasized the distinction between statutory allowances and expenditures under section 14A, affirming the CIT(A)'s order to confirm the disallowance of expenses other than depreciation. en-us Fri, 21 Sep 2012 00:00:00 +0530 Sat, 31 Jul 2021 11:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296653 The Tribunal partly allowed the appellant's appeal, deleting the disallowance of depreciation but confirming the disallowance of other expenses based on the application of section 14A of the Income Tax Act, 1961. The Special Bench clarified that share income from the firm is excluded from the partner's total income, justifying the disallowance under section 14A. The judgment emphasized the distinction between statutory allowances and expenditures under section 14A, affirming the CIT(A)'s order to confirm the disallowance of expenses other than depreciation. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296653