https://www.taxtmi.com/caselaws?id=305379 The Tribunal allowed the software expenses as revenue expenditure, foreign travel expenses, hotel and airfare expenses for foreign visitors, and advertisement expenses. It upheld the deduction of machinery hire charges and incremental liability for pension. The Tribunal also allowed the exclusion of sales tax, excise duty, and scrap sale from total turnover. The matter regarding depreciation on assets transferred was restored for reevaluation. The estimated freight component in closing stock was remitted back for adjudication. The disallowance related to exempt income under section 14A was partially upheld. The order was pronounced on 07-07-2017. en-us Fri, 07 Jul 2017 00:00:00 +0530 Fri, 02 Dec 2022 06:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305379 The Tribunal allowed the software expenses as revenue expenditure, foreign travel expenses, hotel and airfare expenses for foreign visitors, and advertisement expenses. It upheld the deduction of machinery hire charges and incremental liability for pension. The Tribunal also allowed the exclusion of sales tax, excise duty, and scrap sale from total turnover. The matter regarding depreciation on assets transferred was restored for reevaluation. The estimated freight component in closing stock was remitted back for adjudication. The disallowance related to exempt income under section 14A was partially upheld. The order was pronounced on 07-07-2017. Case-Laws Income Tax Fri, 07 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305379