https://www.taxtmi.com/caselaws?id=245571 Direct pension payments to retired employees were held eligible in principle under section 37(1), but the claim was remitted for fresh verification of commercial expediency. Disallowance of interest under section 14A was upheld because the assessee did not show that exempt investments were funded only from interest-free sources. Excess cash in the suspense account was taxable only to the extent of the year's accretion. The bad-debt issue was restored for recomputation after factual verification, while amortisation of premium on Government securities was allowed. Unclaimed deposits were not treated as income, but surplus on sale of pledged gold ornaments was held taxable as trade receipt. en-us Fri, 11 Feb 2011 00:00:00 +0530 Wed, 02 Apr 2014 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245571 Direct pension payments to retired employees were held eligible in principle under section 37(1), but the claim was remitted for fresh verification of commercial expediency. Disallowance of interest under section 14A was upheld because the assessee did not show that exempt investments were funded only from interest-free sources. Excess cash in the suspense account was taxable only to the extent of the year's accretion. The bad-debt issue was restored for recomputation after factual verification, while amortisation of premium on Government securities was allowed. Unclaimed deposits were not treated as income, but surplus on sale of pledged gold ornaments was held taxable as trade receipt. Case-Laws Income Tax Fri, 11 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245571