https://www.taxtmi.com/caselaws?id=233414 The ITAT upheld the CIT (A)'s decisions on all three issues, dismissing the Revenue's appeal in its entirety. The first issue involved the deletion of an addition on account of cash discount under section 40(a)(ia), where the ITAT ruled that the transactions were on a principal to principal basis, not necessitating TDS. The second issue pertained to the deletion of an addition on disallowance of interest attributable to capital work in progress, with the ITAT finding no nexus between borrowed funds and investments. The final issue concerned the deletion of an addition on un-vouched expenses under the sub-head leakage and wastage, which the ITAT deemed as inherent in normal business operations. en-us Fri, 19 Aug 2011 00:00:00 +0530 Tue, 30 Apr 2013 12:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233414 The ITAT upheld the CIT (A)'s decisions on all three issues, dismissing the Revenue's appeal in its entirety. The first issue involved the deletion of an addition on account of cash discount under section 40(a)(ia), where the ITAT ruled that the transactions were on a principal to principal basis, not necessitating TDS. The second issue pertained to the deletion of an addition on disallowance of interest attributable to capital work in progress, with the ITAT finding no nexus between borrowed funds and investments. The final issue concerned the deletion of an addition on un-vouched expenses under the sub-head leakage and wastage, which the ITAT deemed as inherent in normal business operations. Case-Laws Income Tax Fri, 19 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233414