https://www.taxtmi.com/caselaws?id=423500 The Tribunal ruled in favor of the assessee on various issues, including treating replacement of machine parts as revenue expenditure, disallowance under Section 14A, disallowance in computation of book profit under Section 115JB, and depreciation on Managing Director's residence. The Tribunal also disallowed certain additions under Section 115JB, such as TDS on delayed payment charges, and allowed expenses on upgradation of software as revenue expenditure. However, the Tribunal upheld the charging of interest under Section 234B on book profits under Section 115JB. Loss due to foreign exchange difference rate was allowed as a business expenditure. The Tribunal provided a detailed judgment considering relevant legal principles and precedents. en-us Thu, 26 May 2022 00:00:00 +0530 Wed, 08 Jun 2022 09:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423500 The Tribunal ruled in favor of the assessee on various issues, including treating replacement of machine parts as revenue expenditure, disallowance under Section 14A, disallowance in computation of book profit under Section 115JB, and depreciation on Managing Director's residence. The Tribunal also disallowed certain additions under Section 115JB, such as TDS on delayed payment charges, and allowed expenses on upgradation of software as revenue expenditure. However, the Tribunal upheld the charging of interest under Section 234B on book profits under Section 115JB. Loss due to foreign exchange difference rate was allowed as a business expenditure. The Tribunal provided a detailed judgment considering relevant legal principles and precedents. Case-Laws Income Tax Thu, 26 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423500