https://www.taxtmi.com/caselaws?id=441785 The Tribunal upheld the disallowance of Rs. 2,00,00,000 for computerization of branches, considering it a contingent liability. However, eligible depreciation of Rs. 2,88,73,080 on the capitalized expenditure was allowed. The disallowance of Rs. 27,94,800 for provision to District Union was reversed, as it was deemed a statutory payment. The Tribunal directed the AO to verify and allow correct depreciation of Rs. 1,14,40,207. Double disallowance of Rs. 1,52,40,896 for advance tax and TDS was rejected. The addition of Rs. 2,98,14,297 for reserve fund interest was upheld, while Rs. 2,84,55,735 for reserve fund provision was disallowed. The appeal was partly allowed with specific directions for relief. en-us Thu, 10 Aug 2023 00:00:00 +0530 Wed, 16 Aug 2023 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441785 The Tribunal upheld the disallowance of Rs. 2,00,00,000 for computerization of branches, considering it a contingent liability. However, eligible depreciation of Rs. 2,88,73,080 on the capitalized expenditure was allowed. The disallowance of Rs. 27,94,800 for provision to District Union was reversed, as it was deemed a statutory payment. The Tribunal directed the AO to verify and allow correct depreciation of Rs. 1,14,40,207. Double disallowance of Rs. 1,52,40,896 for advance tax and TDS was rejected. The addition of Rs. 2,98,14,297 for reserve fund interest was upheld, while Rs. 2,84,55,735 for reserve fund provision was disallowed. The appeal was partly allowed with specific directions for relief. Case-Laws Income Tax Thu, 10 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441785