https://www.taxtmi.com/caselaws?id=766908 ITAT Delhi allowed assessee's appeal on education expenses, holding that sponsoring foreign education for director's children in business-related disciplines qualifies for deduction under section 37. The tribunal followed Karnataka HC precedent in Ras Information Technologies case. On write-off of advances for leasehold improvements, ITAT allowed deduction under section 36(1)(vii) as bad debt was written off in accounts. For section 14A disallowance, matter was remitted to AO for fresh computation following prevailing laws. ITAT upheld 60% depreciation rate for computer peripherals including UPS, following Delhi HC decisions in Birala Soft and BSES Rajdhani cases. Revenue's ground on duty credit scripts was dismissed as credits were already offered for taxation. en-us Fri, 28 Feb 2025 00:00:00 +0530 Thu, 06 Mar 2025 07:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766908 ITAT Delhi allowed assessee's appeal on education expenses, holding that sponsoring foreign education for director's children in business-related disciplines qualifies for deduction under section 37. The tribunal followed Karnataka HC precedent in Ras Information Technologies case. On write-off of advances for leasehold improvements, ITAT allowed deduction under section 36(1)(vii) as bad debt was written off in accounts. For section 14A disallowance, matter was remitted to AO for fresh computation following prevailing laws. ITAT upheld 60% depreciation rate for computer peripherals including UPS, following Delhi HC decisions in Birala Soft and BSES Rajdhani cases. Revenue's ground on duty credit scripts was dismissed as credits were already offered for taxation. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766908