https://www.taxtmi.com/caselaws?id=429268 The Tribunal allowed the appeals of the assessee, directing the disallowance of discount given to prepaid distributors under Section 40(a)(ia) and compensation cost of ESOP. The addition of foreign exchange gain was remanded for verification. Disallowance under Section 14A was deleted due to no exempt income earned. The disallowance of revenue sharing license fees, club entrance fees, interest on borrowed funds, and proportionate deduction under Section 35DD were also deleted. ESOP cost and Section 14A disallowance while computing book profit under Section 115JB were not upheld. The Tribunal remanded the issue of additional expenditure claimed during assessment proceedings for verification. en-us Wed, 12 Oct 2022 00:00:00 +0530 Thu, 20 Oct 2022 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429268 The Tribunal allowed the appeals of the assessee, directing the disallowance of discount given to prepaid distributors under Section 40(a)(ia) and compensation cost of ESOP. The addition of foreign exchange gain was remanded for verification. Disallowance under Section 14A was deleted due to no exempt income earned. The disallowance of revenue sharing license fees, club entrance fees, interest on borrowed funds, and proportionate deduction under Section 35DD were also deleted. ESOP cost and Section 14A disallowance while computing book profit under Section 115JB were not upheld. The Tribunal remanded the issue of additional expenditure claimed during assessment proceedings for verification. Case-Laws Income Tax Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429268