https://www.taxtmi.com/caselaws?id=248665 The Tribunal upheld the deletion of the addition made on account of 'Sundry Creditors' under the cash system of accounting, ruling that the advance received did not constitute income but was 'client's money' held in a fiduciary capacity. Additionally, the Tribunal confirmed the restriction of disallowance under Section 14A of the Income Tax Act to Rs. 94,721, as the AO failed to prove any expenses incurred for earning exempt income. The Tribunal dismissed the Department's appeal, supporting the CIT (A)'s decisions on both issues. en-us Fri, 30 May 2014 00:00:00 +0530 Thu, 19 Jun 2014 20:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248665 The Tribunal upheld the deletion of the addition made on account of 'Sundry Creditors' under the cash system of accounting, ruling that the advance received did not constitute income but was 'client's money' held in a fiduciary capacity. Additionally, the Tribunal confirmed the restriction of disallowance under Section 14A of the Income Tax Act to Rs. 94,721, as the AO failed to prove any expenses incurred for earning exempt income. The Tribunal dismissed the Department's appeal, supporting the CIT (A)'s decisions on both issues. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248665