https://www.taxtmi.com/caselaws?id=450704 Section 14A disallowance was deleted because the Assessing Officer did not record satisfaction on the assessee's accounts before applying Rule 8D. Comparable selection for support and intragroup services was corrected by excluding functionally dissimilar entities, while letters of comfort to overseas subsidiaries were treated as an international transaction and the arm's length rate of 0.04% was upheld. CSR expenditure was held allowable for the year, balance additional depreciation on assets used for less than 180 days in the earlier year was allowed, dealer trip scheme was treated as deductible business expenditure, royalty waiver was deleted from income, sundry balances written off were remanded for verification, and subsidy under the Maharashtra incentive scheme was held capital in nature. en-us Tue, 05 Mar 2024 00:00:00 +0530 Mon, 11 Mar 2024 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450704 Section 14A disallowance was deleted because the Assessing Officer did not record satisfaction on the assessee's accounts before applying Rule 8D. Comparable selection for support and intragroup services was corrected by excluding functionally dissimilar entities, while letters of comfort to overseas subsidiaries were treated as an international transaction and the arm's length rate of 0.04% was upheld. CSR expenditure was held allowable for the year, balance additional depreciation on assets used for less than 180 days in the earlier year was allowed, dealer trip scheme was treated as deductible business expenditure, royalty waiver was deleted from income, sundry balances written off were remanded for verification, and subsidy under the Maharashtra incentive scheme was held capital in nature. Case-Laws Income Tax Tue, 05 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450704