Bombay High Court Allows Revenue's Appeals in Part in Income Tax Dispute Involving Disallowances Under Section 14A, Section 37, and Section 10B. The court held that Section 14A disallowance requires satisfaction of AO, scientific research expenditure not allowable, demurrage is business expenditure, and Section 10B deduction remanded.
7 May 2021The case involves appeals by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which had partly allowed the...
