https://www.taxtmi.com/caselaws?id=431216 The Tribunal ruled in favor of the assessee on various issues including project expenses, depreciation, bad debts, contributions, and expenditure for river diversion. It allowed the claims based on unity of control, commercial expediency, and revenue nature of expenses. Additionally, the disallowance under section 14A was deleted due to sufficient interest-free funds, and penalties under section 271(1)(c) were cancelled. The Tribunal's decisions aligned with legal principles and Supreme Court precedents, resulting in a favorable outcome for the assessee. en-us Wed, 30 Nov 2022 00:00:00 +0530 Wed, 07 Dec 2022 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431216 The Tribunal ruled in favor of the assessee on various issues including project expenses, depreciation, bad debts, contributions, and expenditure for river diversion. It allowed the claims based on unity of control, commercial expediency, and revenue nature of expenses. Additionally, the disallowance under section 14A was deleted due to sufficient interest-free funds, and penalties under section 271(1)(c) were cancelled. The Tribunal's decisions aligned with legal principles and Supreme Court precedents, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431216