https://www.taxtmi.com/caselaws?id=299550 The Tribunal partly allowed the appeals, directing the deletion of disallowance under Section 14A on interest but upholding administrative expenses disallowance. Disallowance of depreciation on assets from Pravin Metal Corp was remanded. The disallowance under Section 40A(2) for purchases from Ganesh Polychem Ltd was reduced to 33%. An addition due to account discrepancies was remanded for reconciliation. Depreciation disallowance was allowed with approval. Weighted deduction disallowance was reversed with proper documentation. Interest disallowance on loans to subsidiaries was deleted. Allocation of interest for Section 10B was adjusted. Unexplained expenditure deletion was upheld. Remands and recomputations were ordered as per the Tribunal's analysis. en-us Wed, 21 Dec 2016 00:00:00 +0530 Sun, 19 Dec 2021 20:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299550 The Tribunal partly allowed the appeals, directing the deletion of disallowance under Section 14A on interest but upholding administrative expenses disallowance. Disallowance of depreciation on assets from Pravin Metal Corp was remanded. The disallowance under Section 40A(2) for purchases from Ganesh Polychem Ltd was reduced to 33%. An addition due to account discrepancies was remanded for reconciliation. Depreciation disallowance was allowed with approval. Weighted deduction disallowance was reversed with proper documentation. Interest disallowance on loans to subsidiaries was deleted. Allocation of interest for Section 10B was adjusted. Unexplained expenditure deletion was upheld. Remands and recomputations were ordered as per the Tribunal's analysis. Case-Laws Income Tax Wed, 21 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299550