https://www.taxtmi.com/caselaws?id=260021 The Tribunal upheld the deletion of disallowance of retention money, citing the contingent nature of the funds. It also confirmed the deletion of addition of interest accrued on Government Bonds, noting it did not accrue during the relevant year. The Tribunal restricted the disallowance under Rule 8D to 1% of dividend income and dismissed discrepancies in sale figures. Additionally, it upheld the disallowance of insurance expenses and commission payment due to lack of proof of genuineness. Consequently, the Tribunal dismissed both the Revenue's and the assessee's appeals. en-us Mon, 13 Apr 2015 00:00:00 +0530 Fri, 29 May 2015 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260021 The Tribunal upheld the deletion of disallowance of retention money, citing the contingent nature of the funds. It also confirmed the deletion of addition of interest accrued on Government Bonds, noting it did not accrue during the relevant year. The Tribunal restricted the disallowance under Rule 8D to 1% of dividend income and dismissed discrepancies in sale figures. Additionally, it upheld the disallowance of insurance expenses and commission payment due to lack of proof of genuineness. Consequently, the Tribunal dismissed both the Revenue's and the assessee's appeals. Case-Laws Income Tax Mon, 13 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260021