https://www.taxtmi.com/caselaws?id=239633 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowances under sections 40(a)(ia) and 14A read with Rule 8D. It confirmed that payments to suppliers were sales transactions, not subject to TDS under section 194C. Additionally, it upheld the disallowance under section 14A, directing a recalculation based on correct average investment figures. The Tribunal dismissed both the Revenue's appeal and the assessee's cross objections, affirming the CIT(A)'s rulings on both issues. en-us Fri, 19 Apr 2013 00:00:00 +0530 Mon, 18 Nov 2013 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239633 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowances under sections 40(a)(ia) and 14A read with Rule 8D. It confirmed that payments to suppliers were sales transactions, not subject to TDS under section 194C. Additionally, it upheld the disallowance under section 14A, directing a recalculation based on correct average investment figures. The Tribunal dismissed both the Revenue's appeal and the assessee's cross objections, affirming the CIT(A)'s rulings on both issues. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239633