https://www.taxtmi.com/caselaws?id=437731 The Tribunal upheld the disallowance of additional depreciation claimed by the assessee, directed the AO to recompute disallowance under Section 14A, accepted the interest rate for international transactions, excluded disallowance under Section 14A for computing book profit, and found penalty proceedings premature. It upheld the treatment of excise duty and sales tax incentives as revenue receipts, transfer pricing adjustments, depreciation on capitalized professional fees, non-deduction of TDS, FCCB premium depreciation, FCCB issue expenditure depreciation, and corporate guarantee fees. The Tribunal partly allowed the assessee's appeals and dismissed the revenue's appeals, directing the AO to recompute certain aspects in line with judicial precedents. en-us Wed, 29 Mar 2023 00:00:00 +0530 Fri, 12 May 2023 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437731 The Tribunal upheld the disallowance of additional depreciation claimed by the assessee, directed the AO to recompute disallowance under Section 14A, accepted the interest rate for international transactions, excluded disallowance under Section 14A for computing book profit, and found penalty proceedings premature. It upheld the treatment of excise duty and sales tax incentives as revenue receipts, transfer pricing adjustments, depreciation on capitalized professional fees, non-deduction of TDS, FCCB premium depreciation, FCCB issue expenditure depreciation, and corporate guarantee fees. The Tribunal partly allowed the assessee's appeals and dismissed the revenue's appeals, directing the AO to recompute certain aspects in line with judicial precedents. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437731