https://www.taxtmi.com/caselaws?id=59393 The Tribunal ruled in favor of the assessee on several issues: it directed the AO not to thrust depreciation under Section 32 of the IT Act and accepted the capital loss claims related to the sale of shares. It also upheld the deletion of disallowance for VRS compensation as revenue expenditure. However, the Tribunal supported the AO's classification of service charges as 'Income from other sources' and upheld the disallowance under Section 14A, finding no evidence of borrowed funds being used for investments. en-us Fri, 28 Nov 2008 00:00:00 +0530 Wed, 06 Dec 2023 19:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59393 The Tribunal ruled in favor of the assessee on several issues: it directed the AO not to thrust depreciation under Section 32 of the IT Act and accepted the capital loss claims related to the sale of shares. It also upheld the deletion of disallowance for VRS compensation as revenue expenditure. However, the Tribunal supported the AO's classification of service charges as 'Income from other sources' and upheld the disallowance under Section 14A, finding no evidence of borrowed funds being used for investments. Case-Laws Income Tax Fri, 28 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59393