https://www.taxtmi.com/caselaws?id=429124 The Tribunal upheld the disallowance of interest expenditure, depreciation on plant and machinery, and foreign travel expenses due to the lack of business activity and supporting evidence. The re-opening of assessment under Section 147 was quashed due to the absence of fresh tangible material. The disallowance under Section 14A read with Rule 8D was restricted to the extent of exempt income earned. en-us Wed, 21 Sep 2022 00:00:00 +0530 Tue, 18 Oct 2022 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429124 The Tribunal upheld the disallowance of interest expenditure, depreciation on plant and machinery, and foreign travel expenses due to the lack of business activity and supporting evidence. The re-opening of assessment under Section 147 was quashed due to the absence of fresh tangible material. The disallowance under Section 14A read with Rule 8D was restricted to the extent of exempt income earned. Case-Laws Income Tax Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429124