https://www.taxtmi.com/caselaws?id=765406 The ITAT Delhi dismissed the revenue's appeal across multiple disallowance issues. The tribunal upheld deletions of Section 14A disallowances as no exempt income was earned, confirmed CIT(A)'s direction for rental income verification, and allowed miscellaneous foreign expenses as genuine business expenditure. Advertisement and sales promotion expense disallowances were deleted following favorable precedents in assessee's own case for previous years. Software expense disallowances were removed due to AO's failure to specify reasons for treating them as capital expenditure. Consumption debtor expense disallowances were deleted based on detailed party-wise submissions and consistent favorable rulings by ITAT and Delhi HC in earlier years. Leave encashment disallowances under Section 43B were upheld for verification following Exide Industries precedent. en-us Tue, 10 Dec 2024 00:00:00 +0530 Fri, 31 Jan 2025 07:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765406 The ITAT Delhi dismissed the revenue's appeal across multiple disallowance issues. The tribunal upheld deletions of Section 14A disallowances as no exempt income was earned, confirmed CIT(A)'s direction for rental income verification, and allowed miscellaneous foreign expenses as genuine business expenditure. Advertisement and sales promotion expense disallowances were deleted following favorable precedents in assessee's own case for previous years. Software expense disallowances were removed due to AO's failure to specify reasons for treating them as capital expenditure. Consumption debtor expense disallowances were deleted based on detailed party-wise submissions and consistent favorable rulings by ITAT and Delhi HC in earlier years. Leave encashment disallowances under Section 43B were upheld for verification following Exide Industries precedent. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765406