https://www.taxtmi.com/caselaws?id=459745 The tribunal partly allowed the appeal, restricting the disallowance under section 14A to Rs. 2,61,000, aligning with the Delhi HC precedent. It reviewed the disallowance of Rs. 55,27,111 claimed as capital expenditure, determining most items as revenue in nature, except for a Teakwood chair purchase, which was capitalized. Depreciation was allowed on the capitalized amount. The tribunal also reversed the disallowance of Rs. 8,07,800 in travelling expenses, ruling them as business-related, not personal. en-us Wed, 16 Oct 2019 00:00:00 +0530 Thu, 26 Dec 2024 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459745 The tribunal partly allowed the appeal, restricting the disallowance under section 14A to Rs. 2,61,000, aligning with the Delhi HC precedent. It reviewed the disallowance of Rs. 55,27,111 claimed as capital expenditure, determining most items as revenue in nature, except for a Teakwood chair purchase, which was capitalized. Depreciation was allowed on the capitalized amount. The tribunal also reversed the disallowance of Rs. 8,07,800 in travelling expenses, ruling them as business-related, not personal. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459745