https://www.taxtmi.com/caselaws?id=769508 ITAT Mumbai allowed multiple appeals across assessment years 2004-05, 2006-07, and 2007-08. The Tribunal deleted disallowances of depreciation on demerged assets following coordinate bench precedent, allowed software expenses as revenue expenditure, and deleted travel expenses for foreign executives' business visits. The Tribunal confirmed 2% disallowance under section 14A for dividend income and upheld exclusion of 90% royalty income from section 80HHC profits computation. Several issues were restored to AO for fresh examination including VRS compensation claims, advances written-off, annual letting value determination, and section 50C additions. The Tribunal directed consistent stock valuation methods and rejected dividend distribution tax claims under DTAA provisions. en-us Fri, 21 Mar 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769508 ITAT Mumbai allowed multiple appeals across assessment years 2004-05, 2006-07, and 2007-08. The Tribunal deleted disallowances of depreciation on demerged assets following coordinate bench precedent, allowed software expenses as revenue expenditure, and deleted travel expenses for foreign executives' business visits. The Tribunal confirmed 2% disallowance under section 14A for dividend income and upheld exclusion of 90% royalty income from section 80HHC profits computation. Several issues were restored to AO for fresh examination including VRS compensation claims, advances written-off, annual letting value determination, and section 50C additions. The Tribunal directed consistent stock valuation methods and rejected dividend distribution tax claims under DTAA provisions. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769508