https://www.taxtmi.com/caselaws?id=411823 The ITAT ruled in favor of the assessee in ITA No. 2210/Del/2018. It held that disallowance under section 14A should only consider investments yielding exempt income. The ITAT also upheld the deletion of expenses disallowance on income from syndication services and software expenses, emphasizing the integral nature of software with computer equipment. Additionally, it confirmed the disallowance of specific legal and professional expenses as capital expenses, while treating consultancy charges for specific projects as revenue expenditure. The ITAT dismissed the revenue's appeal and allowed the assessee's appeal for statistical purposes. en-us Fri, 06 Aug 2021 00:00:00 +0530 Sat, 04 Sep 2021 08:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411823 The ITAT ruled in favor of the assessee in ITA No. 2210/Del/2018. It held that disallowance under section 14A should only consider investments yielding exempt income. The ITAT also upheld the deletion of expenses disallowance on income from syndication services and software expenses, emphasizing the integral nature of software with computer equipment. Additionally, it confirmed the disallowance of specific legal and professional expenses as capital expenses, while treating consultancy charges for specific projects as revenue expenditure. The ITAT dismissed the revenue's appeal and allowed the assessee's appeal for statistical purposes. Case-Laws Income Tax Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411823