https://www.taxtmi.com/caselaws?id=461986 ITAT Chennai-AT rendered multiple decisions on various tax issues. The tribunal upheld disallowance of management fees under Section 35D(2)(c)(iv) and additional depreciation on leased assets under Section 32(1)(iia). For Section 80HHC deduction, the matter was remanded for recomputation based on net interest/rent following SC precedent in ACG Associated Capsules. Transfer pricing adjustments were remanded to consider revised Form 3CEB with proper comparables. The tribunal allowed depreciation on residential buildings used by employees, treating FCCN exchange gains as capital receipts, and volume discounts for spare parts sales. Disallowances under Section 14A were restricted to 2% of exempt income. Several matters were remanded for fresh consideration including aircraft depreciation, warranty provisions, and software license expenditure. en-us Fri, 23 Sep 2016 00:00:00 +0530 Tue, 13 May 2025 19:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461986 ITAT Chennai-AT rendered multiple decisions on various tax issues. The tribunal upheld disallowance of management fees under Section 35D(2)(c)(iv) and additional depreciation on leased assets under Section 32(1)(iia). For Section 80HHC deduction, the matter was remanded for recomputation based on net interest/rent following SC precedent in ACG Associated Capsules. Transfer pricing adjustments were remanded to consider revised Form 3CEB with proper comparables. The tribunal allowed depreciation on residential buildings used by employees, treating FCCN exchange gains as capital receipts, and volume discounts for spare parts sales. Disallowances under Section 14A were restricted to 2% of exempt income. Several matters were remanded for fresh consideration including aircraft depreciation, warranty provisions, and software license expenditure. Case-Laws Income Tax Fri, 23 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461986