https://www.taxtmi.com/caselaws?id=412197 The Tribunal allowed the assessee's appeal by directing the deletion of disallowance of sales promotion expenses under Section 37(1) and allowing the deduction under Section 80IC without reducing the disallowed expenses. Specific directions were given for the computation of disallowance under Section 14A read with Rule 8D, including verifying own funds and excluding non-yielding investments. The Revenue's appeal was dismissed. The Tribunal did not provide a specific ruling on the levy of interest under Sections 234B and 234C. en-us Wed, 08 Sep 2021 00:00:00 +0530 Mon, 13 Sep 2021 09:21:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412197 The Tribunal allowed the assessee's appeal by directing the deletion of disallowance of sales promotion expenses under Section 37(1) and allowing the deduction under Section 80IC without reducing the disallowed expenses. Specific directions were given for the computation of disallowance under Section 14A read with Rule 8D, including verifying own funds and excluding non-yielding investments. The Revenue's appeal was dismissed. The Tribunal did not provide a specific ruling on the levy of interest under Sections 234B and 234C. Case-Laws Income Tax Wed, 08 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412197