https://www.taxtmi.com/caselaws?id=432318 The Tribunal upheld that delayed payment charges, interest from customers, income from shifting services, liquidation damages, rebates, sale of scrap, supplier discounts, penalties, late delivery payments, unscheduled interchange income, meter fixing fees, and gains on foreign currency exchange are eligible for deduction under Section 80-IA. Income from the sale of Carbon Credits was deemed a capital receipt not taxable. Disallowance under Section 14A is not warranted without exempt income. Interest expenditure is not disallowed if interest-free funds cover loans. Donations under Sections 80G and 80GGB can be claimed separately. Disallowances under Section 14A cannot be added to book profit under Section 115JB. en-us Wed, 28 Dec 2022 00:00:00 +0530 Mon, 02 Jan 2023 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432318 The Tribunal upheld that delayed payment charges, interest from customers, income from shifting services, liquidation damages, rebates, sale of scrap, supplier discounts, penalties, late delivery payments, unscheduled interchange income, meter fixing fees, and gains on foreign currency exchange are eligible for deduction under Section 80-IA. Income from the sale of Carbon Credits was deemed a capital receipt not taxable. Disallowance under Section 14A is not warranted without exempt income. Interest expenditure is not disallowed if interest-free funds cover loans. Donations under Sections 80G and 80GGB can be claimed separately. Disallowances under Section 14A cannot be added to book profit under Section 115JB. Case-Laws Income Tax Wed, 28 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432318