https://www.taxtmi.com/caselaws?id=261400 The Tribunal upheld the confirmation of addition under Sections 36(1)(iii) and 40A(2)(b) of the Income Tax Act, as well as the disallowance under Section 14A read with Rule 8D. The ad-hoc disallowance of expenses was partly allowed by restricting it to 5%. The levy of interest under Sections 234A, 234B, and 234C was upheld as mandatory and consequential. The appeal filed by the assessee was partly allowed. en-us Thu, 30 Apr 2015 00:00:00 +0530 Fri, 04 Sep 2015 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261400 The Tribunal upheld the confirmation of addition under Sections 36(1)(iii) and 40A(2)(b) of the Income Tax Act, as well as the disallowance under Section 14A read with Rule 8D. The ad-hoc disallowance of expenses was partly allowed by restricting it to 5%. The levy of interest under Sections 234A, 234B, and 234C was upheld as mandatory and consequential. The appeal filed by the assessee was partly allowed. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261400