https://www.taxtmi.com/caselaws?id=418618 The Tribunal partly allowed all appeals filed by the assessee, addressing disallowances and deductions under the Income Tax Act, 1961. The disallowance of interest income under section 80P was upheld, citing a previous unfavorable precedent. However, the disallowance of interest income from FDs and Trusts was remitted for fresh adjudication. Depreciation disallowance was confirmed due to lack of evidence, as was the disallowance of repair and maintenance charges. The disallowance under section 40a(ia) for non-deduction of tax was upheld, and business expenses for land tax were disallowed. en-us Thu, 10 Feb 2022 00:00:00 +0530 Sat, 19 Feb 2022 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418618 The Tribunal partly allowed all appeals filed by the assessee, addressing disallowances and deductions under the Income Tax Act, 1961. The disallowance of interest income under section 80P was upheld, citing a previous unfavorable precedent. However, the disallowance of interest income from FDs and Trusts was remitted for fresh adjudication. Depreciation disallowance was confirmed due to lack of evidence, as was the disallowance of repair and maintenance charges. The disallowance under section 40a(ia) for non-deduction of tax was upheld, and business expenses for land tax were disallowed. Case-Laws Income Tax Thu, 10 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418618