https://www.taxtmi.com/caselaws?id=206876 ITAT Chandigarh allowed the assessee's appeal in substantial part. On disallowance u/s 40(a)(ia), the matter was remanded to the AO to verify the assessee's claim that TDS related to periods prior to 31.03.2004, holding that s.40(a)(ia), inserted w.e.f. 01.04.2005, would not apply to such amounts. On disallowance u/s 14A, the Tribunal upheld CIT(A)'s finding that investments were largely old, no dividend was received on most of them, and there was no nexus with borrowed funds; hence no disallowance was warranted. On deduction u/s 80P(2)(e), the Tribunal held that a genuine recomputation in a revised return cannot be denied merely for not filing a revised computation, particularly when AO never held the claim to be inadmissible. en-us Fri, 30 Sep 2011 00:00:00 +0530 Tue, 02 Dec 2025 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206876 ITAT Chandigarh allowed the assessee's appeal in substantial part. On disallowance u/s 40(a)(ia), the matter was remanded to the AO to verify the assessee's claim that TDS related to periods prior to 31.03.2004, holding that s.40(a)(ia), inserted w.e.f. 01.04.2005, would not apply to such amounts. On disallowance u/s 14A, the Tribunal upheld CIT(A)'s finding that investments were largely old, no dividend was received on most of them, and there was no nexus with borrowed funds; hence no disallowance was warranted. On deduction u/s 80P(2)(e), the Tribunal held that a genuine recomputation in a revised return cannot be denied merely for not filing a revised computation, particularly when AO never held the claim to be inadmissible. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206876