https://www.taxtmi.com/caselaws?id=461876 ITAT Chennai allowed the assessee's appeal on three grounds. First, the Tribunal deleted the disallowance under Section 35D, holding that lower authorities erred in denying 1/5th expenditure deduction of Rs. 75 lakhs for AY 2014-15, which was eligible based on previous Tribunal orders. Second, regarding withholding tax relief under Section 90 for Singapore interest income, the matter was remitted to AO for verification following coordinate bench precedents. Third, the MAT credit issue under Section 115JB was remanded to AO with directions to allow legitimate credit in accordance with law. en-us Wed, 31 Jul 2024 00:00:00 +0530 Fri, 02 May 2025 16:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461876 ITAT Chennai allowed the assessee's appeal on three grounds. First, the Tribunal deleted the disallowance under Section 35D, holding that lower authorities erred in denying 1/5th expenditure deduction of Rs. 75 lakhs for AY 2014-15, which was eligible based on previous Tribunal orders. Second, regarding withholding tax relief under Section 90 for Singapore interest income, the matter was remitted to AO for verification following coordinate bench precedents. Third, the MAT credit issue under Section 115JB was remanded to AO with directions to allow legitimate credit in accordance with law. Case-Laws Income Tax Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461876