https://www.taxtmi.com/caselaws?id=302055 The Tribunal overturned various decisions made by the CIT(A) in favor of the assessee based on precedents and interpretations of the Income-tax Act. The Tribunal allowed deductions disallowed by the CIT(A) for commission paid, contribution to the Utmal Employees Welfare Fund, expenditure on oil exploration, expenditure on SAP R/3 software, interest expenditure, gain on extinguishment of sales tax deferred loan liability, deduction under sections 80HHC and 80-IA, and adjustments for computing book profit under section 115JA. The Tribunal remanded some issues for reconsideration by the AO, resulting in a favorable outcome for the assessee. en-us Thu, 29 Oct 2020 00:00:00 +0530 Mon, 02 May 2022 21:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302055 The Tribunal overturned various decisions made by the CIT(A) in favor of the assessee based on precedents and interpretations of the Income-tax Act. The Tribunal allowed deductions disallowed by the CIT(A) for commission paid, contribution to the Utmal Employees Welfare Fund, expenditure on oil exploration, expenditure on SAP R/3 software, interest expenditure, gain on extinguishment of sales tax deferred loan liability, deduction under sections 80HHC and 80-IA, and adjustments for computing book profit under section 115JA. The Tribunal remanded some issues for reconsideration by the AO, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Thu, 29 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302055