https://www.taxtmi.com/caselaws?id=296807 The ITAT allowed the assessee's claim for deduction under section 80IA, disallowing the Mission Reach Project expenditure. The disallowance of interest on security deposits was reversed, as was the disallowance of sales promotion expenses. However, the reduction of deduction under section 80IA(4) by losses from operation and maintenance activities was upheld. The disallowance of labor charges was also reversed. Penalties under section 271(1)(c) were deleted. The final outcome resulted in the partial allowance of the assessee's appeals for multiple assessment years and the dismissal of the Revenue's appeals for certain years, with penalty appeals for the assessee being allowed. en-us Tue, 30 Apr 2013 00:00:00 +0530 Sat, 07 Aug 2021 10:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296807 The ITAT allowed the assessee's claim for deduction under section 80IA, disallowing the Mission Reach Project expenditure. The disallowance of interest on security deposits was reversed, as was the disallowance of sales promotion expenses. However, the reduction of deduction under section 80IA(4) by losses from operation and maintenance activities was upheld. The disallowance of labor charges was also reversed. Penalties under section 271(1)(c) were deleted. The final outcome resulted in the partial allowance of the assessee's appeals for multiple assessment years and the dismissal of the Revenue's appeals for certain years, with penalty appeals for the assessee being allowed. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296807