https://www.taxtmi.com/caselaws?id=467191 Factual and precedent-based analysis addressed seven issues concerning deductibility and disallowance of various expenditures. The tribunal allowed fines and penalties incurred at foreign airports as business expenses, permitted write offs to subsidiaries and provisions for frequent flyer liabilities where reflected in books, allowed post balance sheet settlements and prior period adjustments, and treated interest on delayed service tax and TDS as compensatory and deductible. Disallowance under Rule 8D/section 14A was remitted for recomputation limited to actual exempt income and investments, while depreciation on the Air India building was upheld as disallowable. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 06 Mar 2026 12:09:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467191 Factual and precedent-based analysis addressed seven issues concerning deductibility and disallowance of various expenditures. The tribunal allowed fines and penalties incurred at foreign airports as business expenses, permitted write offs to subsidiaries and provisions for frequent flyer liabilities where reflected in books, allowed post balance sheet settlements and prior period adjustments, and treated interest on delayed service tax and TDS as compensatory and deductible. Disallowance under Rule 8D/section 14A was remitted for recomputation limited to actual exempt income and investments, while depreciation on the Air India building was upheld as disallowable. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467191