https://www.taxtmi.com/caselaws?id=310889 ITAT Surat allowed deduction under Section 80IA for eligible unit losses from earlier years, following precedent in assessee's own case and HC ruling. Court upheld CIT(A)'s decision deleting Section 14A disallowance, finding assessee had sufficient own funds (436 crores) versus exempt income investments (8.05 crores). Commission expenses relating to earlier years' turnover were allowed as genuine business expenditure. Various disallowances for welfare expenses, conveyance, traveling, motor car, telephone, and membership fees were restricted by CIT(A) with partial relief granted. Interest on delayed service tax payment was allowed as business expenditure. All appeals decided in favor of assessee. en-us Fri, 12 Jul 2019 00:00:00 +0530 Thu, 23 Nov 2023 19:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310889 ITAT Surat allowed deduction under Section 80IA for eligible unit losses from earlier years, following precedent in assessee's own case and HC ruling. Court upheld CIT(A)'s decision deleting Section 14A disallowance, finding assessee had sufficient own funds (436 crores) versus exempt income investments (8.05 crores). Commission expenses relating to earlier years' turnover were allowed as genuine business expenditure. Various disallowances for welfare expenses, conveyance, traveling, motor car, telephone, and membership fees were restricted by CIT(A) with partial relief granted. Interest on delayed service tax payment was allowed as business expenditure. All appeals decided in favor of assessee. Case-Laws Income Tax Fri, 12 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310889