https://www.taxtmi.com/caselaws?id=306402 The Tribunal ruled in favor of the assessee in a case involving various tax issues. It directed the Assessing Officer to delete the disallowed foreign travel expenses of Rs. 8.49 lakhs, stating they were incurred for business purposes. The categorization of interest income was clarified, with margin money deposits assessed as 'income from business' and income tax refund interest as 'income from other sources.' The treatment of income tax recoverable and disallowance under section 14A were also addressed, resulting in deletions or adjustments based on previous decisions. The disallowance of depreciation was not pursued, leading to a partial allowance of the appeal. en-us Wed, 19 Sep 2018 00:00:00 +0530 Fri, 27 Jan 2023 20:17:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306402 The Tribunal ruled in favor of the assessee in a case involving various tax issues. It directed the Assessing Officer to delete the disallowed foreign travel expenses of Rs. 8.49 lakhs, stating they were incurred for business purposes. The categorization of interest income was clarified, with margin money deposits assessed as 'income from business' and income tax refund interest as 'income from other sources.' The treatment of income tax recoverable and disallowance under section 14A were also addressed, resulting in deletions or adjustments based on previous decisions. The disallowance of depreciation was not pursued, leading to a partial allowance of the appeal. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306402