https://www.taxtmi.com/caselaws?id=56178 The Tribunal ruled in favor of the Revenue regarding the computation of carry forward of unabsorbed depreciation and investment allowance under section 115J, rejecting the assessee's claim to carry forward the entire unabsorbed amounts unchanged. The Tribunal allowed the expenses to Cricket Club of India and Royal Bombay Yacht Club as business expenditure, following a decision of the Gujarat High Court. The Tribunal upheld the denial of deduction under section 80-I for interest from short-term deposits and service charges, as they lacked a direct nexus with the industrial undertaking. The Tribunal also upheld the deletion of disallowances under Rule 6B for presentation articles and traveling expenses, while rejecting the treatment of expenses as technical know-how fees under section 35AB. en-us Tue, 15 Feb 2000 00:00:00 +0530 Thu, 02 Dec 2010 11:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56178 The Tribunal ruled in favor of the Revenue regarding the computation of carry forward of unabsorbed depreciation and investment allowance under section 115J, rejecting the assessee's claim to carry forward the entire unabsorbed amounts unchanged. The Tribunal allowed the expenses to Cricket Club of India and Royal Bombay Yacht Club as business expenditure, following a decision of the Gujarat High Court. The Tribunal upheld the denial of deduction under section 80-I for interest from short-term deposits and service charges, as they lacked a direct nexus with the industrial undertaking. The Tribunal also upheld the deletion of disallowances under Rule 6B for presentation articles and traveling expenses, while rejecting the treatment of expenses as technical know-how fees under section 35AB. Case-Laws Income Tax Tue, 15 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56178