https://www.taxtmi.com/caselaws?id=65574 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal on all three issues. It confirmed the deletion of additions under Section 43B for delayed PF contributions, noting the retrospective application of amendments. The Tribunal also supported the deletion of disallowance for commission payments, as the AO failed to prove these were against public policy. Lastly, it affirmed the deletion under Section 14A, highlighting the absence of evidence linking borrowed funds to exempt income investments. The Tribunal criticized the AO for relying on assumptions rather than concrete evidence in all instances. en-us Fri, 04 Jul 2008 00:00:00 +0530 Sun, 10 Dec 2023 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65574 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal on all three issues. It confirmed the deletion of additions under Section 43B for delayed PF contributions, noting the retrospective application of amendments. The Tribunal also supported the deletion of disallowance for commission payments, as the AO failed to prove these were against public policy. Lastly, it affirmed the deletion under Section 14A, highlighting the absence of evidence linking borrowed funds to exempt income investments. The Tribunal criticized the AO for relying on assumptions rather than concrete evidence in all instances. Case-Laws Income Tax Fri, 04 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65574