https://www.taxtmi.com/caselaws?id=262119 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decisions in two issues. Firstly, it affirmed the restriction of disallowance under section 14A to 2% of exempt income, rejecting the Revenue's appeal against the initial 10% disallowance. Secondly, it upheld the deletion of disallowance under section 40(a)(i) for payments to M/s. Amalgamation Pvt. Ltd., ruling that TDS provisions did not apply as the payments were reimbursement of expenses. The Revenue's appeals were dismissed, and the orders were pronounced on 22.5.2015. en-us Fri, 22 May 2015 00:00:00 +0530 Mon, 03 Aug 2015 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262119 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decisions in two issues. Firstly, it affirmed the restriction of disallowance under section 14A to 2% of exempt income, rejecting the Revenue's appeal against the initial 10% disallowance. Secondly, it upheld the deletion of disallowance under section 40(a)(i) for payments to M/s. Amalgamation Pvt. Ltd., ruling that TDS provisions did not apply as the payments were reimbursement of expenses. The Revenue's appeals were dismissed, and the orders were pronounced on 22.5.2015. Case-Laws Income Tax Fri, 22 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262119