https://www.taxtmi.com/caselaws?id=435915 The Tribunal allowed both appeals of the assessee for the assessment years 2013-14 and 2014-15 for statistical purposes. The disallowances under Section 14A were remanded to the AO for verification of investment sources and correct interest disallowance figures. The Tribunal ruled that expenses for business expansion should be considered revenue expenditure and allowed depreciation claims for assets ready to use. The initiation of penalty under Section 271(1)(c) was not addressed, and interest levies under Section 234A/B/C were upheld. en-us Tue, 20 Dec 2022 00:00:00 +0530 Thu, 30 Mar 2023 08:17:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435915 The Tribunal allowed both appeals of the assessee for the assessment years 2013-14 and 2014-15 for statistical purposes. The disallowances under Section 14A were remanded to the AO for verification of investment sources and correct interest disallowance figures. The Tribunal ruled that expenses for business expansion should be considered revenue expenditure and allowed depreciation claims for assets ready to use. The initiation of penalty under Section 271(1)(c) was not addressed, and interest levies under Section 234A/B/C were upheld. Case-Laws Income Tax Tue, 20 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435915