https://www.taxtmi.com/caselaws?id=301842 The Tribunal partially allowed the assessee's appeal by directing the Assessing Officer to compute 0.5% of investments yielding tax-exempt income. Various disallowances were overturned, including bad debts, loss from foreign currency contracts, and interest expenses. The Tribunal affirmed deductions for depreciation on shares, office premises, vehicles, office equipment, and UPS. It also upheld the allowance of prior period expenses and guarantee commission. Disallowances related to interest expenditure and aircraft hire charges were confirmed. The Tribunal supported the deduction under Section 80IA for port operations, emphasizing the direct connection to the business. en-us Tue, 12 Feb 2019 00:00:00 +0530 Fri, 22 Apr 2022 21:50:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301842 The Tribunal partially allowed the assessee's appeal by directing the Assessing Officer to compute 0.5% of investments yielding tax-exempt income. Various disallowances were overturned, including bad debts, loss from foreign currency contracts, and interest expenses. The Tribunal affirmed deductions for depreciation on shares, office premises, vehicles, office equipment, and UPS. It also upheld the allowance of prior period expenses and guarantee commission. Disallowances related to interest expenditure and aircraft hire charges were confirmed. The Tribunal supported the deduction under Section 80IA for port operations, emphasizing the direct connection to the business. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301842