https://www.taxtmi.com/caselaws?id=245011 The Appellate Tribunal ITAT Kolkata upheld the CIT(A)'s decision to delete the addition made by the AO on account of shortage of stock due to lack of evidence. It also affirmed the CIT(A)'s restriction of expenses related to exempted income under section 14A, as the AO failed to establish a link between borrowed funds and investments. The Tribunal dismissed both the revenue's appeal and the assessee's cross objection, confirming the decisions of the CIT(A). The judgment was pronounced on 13.03.2014. en-us Thu, 13 Mar 2014 00:00:00 +0530 Sat, 15 Mar 2014 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245011 The Appellate Tribunal ITAT Kolkata upheld the CIT(A)'s decision to delete the addition made by the AO on account of shortage of stock due to lack of evidence. It also affirmed the CIT(A)'s restriction of expenses related to exempted income under section 14A, as the AO failed to establish a link between borrowed funds and investments. The Tribunal dismissed both the revenue's appeal and the assessee's cross objection, confirming the decisions of the CIT(A). The judgment was pronounced on 13.03.2014. Case-Laws Income Tax Thu, 13 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245011