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Facts
The assessee and revenue filed cross-appeals against the CIT(A)'s order concerning disallowance under Section 14A, depreciation on intangible assets, and deduction under Section 80IA(4). The case involves assessment years 2017-18 and 2018-19.
Held
The Tribunal upheld the CIT(A)'s restriction of disallowance under Section 14A to Rs. 24,00,000. It also confirmed the deletion of disallowance of depreciation on intangible assets and allowed the deduction under Section 80IA(4), following previous decisions.
Key Issues
Whether the disallowance under Section 14A was correctly computed, whether depreciation on intangible assets is allowable, and if the assessee is eligible for deduction under Section 80IA(4).
Sections Cited
14A, 8D, 115-O, DTAA, 250, 10(35), 80IA(4), 263
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Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD
Before: DR. B.R.R. KUMAR, VICE-SHRI SIDDHARTHA NAUTIYAL
आदेश क� आदेश क� ��त�ल�प ��त�ल�प अ�े�षत अ�े�षत अ�े�षत/Copy of the Order forwarded to : अ�े�षत आदेश आदेश क� क� ��त�ल�प ��त�ल�प 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबं�धत आयकर आयु�त / Concerned CIT 4. आयकर आयु�त(अपील) / The CIT(A)- 5. �वभागीय ��त�न�ध, आयकर अपील$य अ�धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड) फाईल / Guard file.