https://www.taxtmi.com/caselaws?id=237909 The Tribunal allowed the appeal regarding the sham transaction allegation on the purchase of iron ore, reinstating the loss incurred on the sale. On the disallowance under Section 14A of the Income Tax Act, the Tribunal directed a revised disallowance at 2% of the exempt income, aligning with judicial precedents. The appeal was partly allowed. en-us Wed, 18 Sep 2013 00:00:00 +0530 Mon, 07 Oct 2013 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237909 The Tribunal allowed the appeal regarding the sham transaction allegation on the purchase of iron ore, reinstating the loss incurred on the sale. On the disallowance under Section 14A of the Income Tax Act, the Tribunal directed a revised disallowance at 2% of the exempt income, aligning with judicial precedents. The appeal was partly allowed. Case-Laws Income Tax Wed, 18 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237909