https://www.taxtmi.com/caselaws?id=778879 ITAT MUMBAI dismissed the revenue's grounds and allowed most contested claims. Expenditure on replacement dies/moulds, jigs and fixtures, and software were held revenue in nature and deductible. Penalty charges from suppliers were treated as capital receipts. Upfront premium on 99-year leasehold land was accepted as capital and to be amortised; prior-period liabilities debited on invoice receipt were upheld and deleted from additions. Deduction under s.80IA was allowed after adjusting pre-assessment losses; s.14A disallowance under Rule 8D was deleted (administrative disallowance limited to 2% of exempt income). Transfer-pricing, DEPB export benefit taxability, and provisions for doubtful debts were remitted to AO/TPO for fresh consideration consistent with law. en-us Tue, 26 Aug 2025 00:00:00 +0530 Wed, 24 Sep 2025 08:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778879 ITAT MUMBAI dismissed the revenue's grounds and allowed most contested claims. Expenditure on replacement dies/moulds, jigs and fixtures, and software were held revenue in nature and deductible. Penalty charges from suppliers were treated as capital receipts. Upfront premium on 99-year leasehold land was accepted as capital and to be amortised; prior-period liabilities debited on invoice receipt were upheld and deleted from additions. Deduction under s.80IA was allowed after adjusting pre-assessment losses; s.14A disallowance under Rule 8D was deleted (administrative disallowance limited to 2% of exempt income). Transfer-pricing, DEPB export benefit taxability, and provisions for doubtful debts were remitted to AO/TPO for fresh consideration consistent with law. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778879