https://www.taxtmi.com/highlights?id=92498 The ITAT remitted and disposed issues as follows: directed recomputation of transfer-pricing interest on outstanding receivables at LIBOR + 0.65% (rejecting application of the Coordinate Bench's prior basis point and the CIT(A)'s LIBOR + 0.5%); deleted the TPO adjustment relating to interest on share-application monies where shares were allotted within six months; held that no disallowance under s.14A read with Rule 8D is sustainable because the assessee earned no exempt income and the 2022 amendment is prospective; and held that major overhauling expenditure capitalised on plant and machinery qualifies for depreciation at 15%, rejecting the CIT(A)'s contrary deletion. en-us Sat, 13 Sep 2025 08:47:17 +0530 Sat, 13 Sep 2025 08:47:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92498 The ITAT remitted and disposed issues as follows: directed recomputation of transfer-pricing interest on outstanding receivables at LIBOR + 0.65% (rejecting application of the Coordinate Bench's prior basis point and the CIT(A)'s LIBOR + 0.5%); deleted the TPO adjustment relating to interest on share-application monies where shares were allotted within six months; held that no disallowance under s.14A read with Rule 8D is sustainable because the assessee earned no exempt income and the 2022 amendment is prospective; and held that major overhauling expenditure capitalised on plant and machinery qualifies for depreciation at 15%, rejecting the CIT(A)'s contrary deletion. Highlights Income Tax Sat, 13 Sep 2025 08:47:17 +0530 https://www.taxtmi.com/highlights?id=92498