https://www.taxtmi.com/caselaws?id=431673 The ITAT ruled in favor of the assessee on multiple issues for AYs 2015-16 and 2016-17, partially allowing the appeal for AY 2014-15. The disallowance of ESOP expenditure was overturned, following precedents establishing its allowance as revenue expenditure. The disallowance of interest on unsecured loans was rejected due to the varying interest rates and lack of collateral. Business promotion, guest house, and miscellaneous expenses disallowances were upheld for lack of evidence. The disallowance of weighted deduction on scientific research expenditure was overturned as the delay in receiving Form 3CL was not the assessee's fault. en-us Thu, 15 Dec 2022 00:00:00 +0530 Sat, 17 Dec 2022 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431673 The ITAT ruled in favor of the assessee on multiple issues for AYs 2015-16 and 2016-17, partially allowing the appeal for AY 2014-15. The disallowance of ESOP expenditure was overturned, following precedents establishing its allowance as revenue expenditure. The disallowance of interest on unsecured loans was rejected due to the varying interest rates and lack of collateral. Business promotion, guest house, and miscellaneous expenses disallowances were upheld for lack of evidence. The disallowance of weighted deduction on scientific research expenditure was overturned as the delay in receiving Form 3CL was not the assessee's fault. Case-Laws Income Tax Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431673