https://www.taxtmi.com/caselaws?id=462086 ITAT Chennai ruled on multiple tax issues. Section 14A disallowance for exempt income expenses must be restricted only to investments generating exempt income, not all investments. Computer software depreciation allowed at 60% rate following Madras HC precedent. Long-term capital loss and RBI compounding fee claims remitted to AO for detailed verification. Set-off of Section 10AA unit losses against other taxable income permitted following Supreme Court decision in Yokogawa India. Section 14A disallowance cannot be added back while computing book profit under Section 115JB. Lease equalization charges properly deleted from MAT computation as ascertained liability. en-us Fri, 29 Dec 2023 00:00:00 +0530 Wed, 21 May 2025 21:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462086 ITAT Chennai ruled on multiple tax issues. Section 14A disallowance for exempt income expenses must be restricted only to investments generating exempt income, not all investments. Computer software depreciation allowed at 60% rate following Madras HC precedent. Long-term capital loss and RBI compounding fee claims remitted to AO for detailed verification. Set-off of Section 10AA unit losses against other taxable income permitted following Supreme Court decision in Yokogawa India. Section 14A disallowance cannot be added back while computing book profit under Section 115JB. Lease equalization charges properly deleted from MAT computation as ascertained liability. Case-Laws Income Tax Fri, 29 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462086