https://www.taxtmi.com/caselaws?id=437922 The Tribunal partly allowed the assessee's appeals for statistical purposes and dismissed the revenue's appeals. It directed the AO to re-examine issues such as depreciation on UPS, long-term capital loss, and disallowance under Sections 40(a)(i) and 14A, among others, in light of relevant judicial precedents. The Tribunal upheld the reopening of assessment under Section 147 and allowed depreciation on electrical installations and non-compete fees. It restored several issues to the AO for further adjudication, ensuring the assessee could present necessary information and evidence. The deferred income from advance received from members was upheld, aligning with prior decisions. en-us Wed, 10 May 2023 00:00:00 +0530 Mon, 05 Aug 2024 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437922 The Tribunal partly allowed the assessee's appeals for statistical purposes and dismissed the revenue's appeals. It directed the AO to re-examine issues such as depreciation on UPS, long-term capital loss, and disallowance under Sections 40(a)(i) and 14A, among others, in light of relevant judicial precedents. The Tribunal upheld the reopening of assessment under Section 147 and allowed depreciation on electrical installations and non-compete fees. It restored several issues to the AO for further adjudication, ensuring the assessee could present necessary information and evidence. The deferred income from advance received from members was upheld, aligning with prior decisions. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437922