https://www.taxtmi.com/caselaws?id=426778 The Tribunal partly allowed the assessee's appeal regarding advertisement expenses, interest on advances to associated enterprises, and apportionment of common expenses for deduction under section 80IC. The Tribunal dismissed the claim for advertisement expenses as business expenditure or irretrievable cash loss, directed computation of interest at LIBOR+2% for advances to AEs, and upheld the AO's allocation of common expenses based on turnover. The order was pronounced on 17th August 2022. en-us Wed, 17 Aug 2022 00:00:00 +0530 Wed, 24 Aug 2022 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426778 The Tribunal partly allowed the assessee's appeal regarding advertisement expenses, interest on advances to associated enterprises, and apportionment of common expenses for deduction under section 80IC. The Tribunal dismissed the claim for advertisement expenses as business expenditure or irretrievable cash loss, directed computation of interest at LIBOR+2% for advances to AEs, and upheld the AO's allocation of common expenses based on turnover. The order was pronounced on 17th August 2022. Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426778