https://www.taxtmi.com/caselaws?id=308614 The Tribunal partly allowed the assessee's appeals, directing the AO to restrict the disallowance under Section 14A read with Rule 8D to Rs. 50,000/- for each assessment year. The Tribunal allowed the deduction for ESOP expenditure and the corresponding adjustment based on the perquisite value taxed in the hands of employees. Additionally, the Tribunal upheld the CIT(A)'s order regarding the non-taxation of interest income on NPAs on an accrual basis. The Revenue's cross appeals were dismissed. en-us Fri, 09 Dec 2022 00:00:00 +0530 Sat, 08 Jul 2023 07:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308614 The Tribunal partly allowed the assessee's appeals, directing the AO to restrict the disallowance under Section 14A read with Rule 8D to Rs. 50,000/- for each assessment year. The Tribunal allowed the deduction for ESOP expenditure and the corresponding adjustment based on the perquisite value taxed in the hands of employees. Additionally, the Tribunal upheld the CIT(A)'s order regarding the non-taxation of interest income on NPAs on an accrual basis. The Revenue's cross appeals were dismissed. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308614