https://www.taxtmi.com/caselaws?id=412498 The Tribunal partly allowed the appeal, upholding the disallowance under Section 14A read with Rule 8D of Income Tax Rules but reducing it to Rs. 7,08,80,379. The issue of depreciation on leasehold improvements was remanded for re-examination to determine eligibility for 100% depreciation. The matter of disallowance of interest on TDS under MAT provisions was also remanded for further verification. Additionally, the Tribunal allowed the deduction for education cess & secondary and higher education cess as business expenditure, following relevant judicial precedents, and remanded this issue for reconsideration by the AO. en-us Wed, 18 Aug 2021 00:00:00 +0530 Sat, 18 Sep 2021 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412498 The Tribunal partly allowed the appeal, upholding the disallowance under Section 14A read with Rule 8D of Income Tax Rules but reducing it to Rs. 7,08,80,379. The issue of depreciation on leasehold improvements was remanded for re-examination to determine eligibility for 100% depreciation. The matter of disallowance of interest on TDS under MAT provisions was also remanded for further verification. Additionally, the Tribunal allowed the deduction for education cess & secondary and higher education cess as business expenditure, following relevant judicial precedents, and remanded this issue for reconsideration by the AO. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412498