https://www.taxtmi.com/caselaws?id=463927 ITAT MUMBAI (AT) largely allowed the assessee's appeals, permitting deductions and deletions across multiple heads: wealth-tax payment, 20% royalty under s.80O, recurring software costs, dies/moulds/jigs and fixtures as revenue expenditure, sale-and-leaseback depreciation, leasehold land write-offs, electricity connection charges, prior-period expenses, and bad debts. Captive wind power and scrap sales were excluded from turnover for s.80HHC; 90% reduction applies only to the taxable portion of DEPB (DEPB issue remanded). Disallowances reversed included provisions under a company scheme, section 14A interest, and administrative allocations against dividend/mutual-fund income (s.80M). MD's wife's foreign travel disallowance was sustained; Rule 8D not to be applied for MAT. en-us Mon, 09 Sep 2024 00:00:00 +0530 Fri, 19 Sep 2025 14:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463927 ITAT MUMBAI (AT) largely allowed the assessee's appeals, permitting deductions and deletions across multiple heads: wealth-tax payment, 20% royalty under s.80O, recurring software costs, dies/moulds/jigs and fixtures as revenue expenditure, sale-and-leaseback depreciation, leasehold land write-offs, electricity connection charges, prior-period expenses, and bad debts. Captive wind power and scrap sales were excluded from turnover for s.80HHC; 90% reduction applies only to the taxable portion of DEPB (DEPB issue remanded). Disallowances reversed included provisions under a company scheme, section 14A interest, and administrative allocations against dividend/mutual-fund income (s.80M). MD's wife's foreign travel disallowance was sustained; Rule 8D not to be applied for MAT. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463927