https://www.taxtmi.com/caselaws?id=310121 The Tribunal upheld the CIT(A)'s decision to delete disallowances related to interest-free loans, Section 14A, and Section 40(a)(ia). It affirmed the classification of "Deepsea Matdrill" as a ship and the applicability of the Tonnage Tax Scheme. The Tribunal also confirmed that MAT provisions under Section 115JB do not apply to tonnage tax companies. However, the Tribunal reversed the CIT(A)'s deletion of disallowance for late deposit of PF and ESI, following the Supreme Court's ruling. en-us Fri, 25 Nov 2022 00:00:00 +0530 Sat, 07 Oct 2023 08:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310121 The Tribunal upheld the CIT(A)'s decision to delete disallowances related to interest-free loans, Section 14A, and Section 40(a)(ia). It affirmed the classification of "Deepsea Matdrill" as a ship and the applicability of the Tonnage Tax Scheme. The Tribunal also confirmed that MAT provisions under Section 115JB do not apply to tonnage tax companies. However, the Tribunal reversed the CIT(A)'s deletion of disallowance for late deposit of PF and ESI, following the Supreme Court's ruling. Case-Laws Income Tax Fri, 25 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310121