https://www.taxtmi.com/caselaws?id=768358 ITAT Delhi allowed the assessee's appeal on multiple grounds. The Tribunal reversed disallowance of management consultancy charges, finding sufficient evidence of business nexus and commercial expediency, noting turnover increased from Rs. 479.73 crores to Rs. 2,871.10 crores. Sales tax subsidy addition was deleted as income accrued only upon actual receipt and verification, not provisional sanction. Section 14A disallowance was removed since no exempt income was earned from investments. Foreign exchange gain addition was deleted as AO had already removed it in appeal effect order. Ad hoc expense disallowance was reversed for lack of specific justification. MAT computation adjustments were also deleted following these decisions. en-us Wed, 26 Mar 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768358 ITAT Delhi allowed the assessee's appeal on multiple grounds. The Tribunal reversed disallowance of management consultancy charges, finding sufficient evidence of business nexus and commercial expediency, noting turnover increased from Rs. 479.73 crores to Rs. 2,871.10 crores. Sales tax subsidy addition was deleted as income accrued only upon actual receipt and verification, not provisional sanction. Section 14A disallowance was removed since no exempt income was earned from investments. Foreign exchange gain addition was deleted as AO had already removed it in appeal effect order. Ad hoc expense disallowance was reversed for lack of specific justification. MAT computation adjustments were also deleted following these decisions. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768358