https://www.taxtmi.com/caselaws?id=263611 The Tribunal upheld the addition under Sections 36(1)(iii) and 40A(2)(b), disallowance under Section 14A with Rule 8D, and interest levy under Sections 234A, 234B, and 234C. The disallowance of foundation day expenses was upheld, and the adhoc disallowance of various expenses was reduced to 5%. The appeal was partly allowed, with the Tribunal dismissing some grounds and directing a reduction in the adhoc disallowance percentage. en-us Fri, 21 Aug 2015 00:00:00 +0530 Mon, 07 Sep 2015 07:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263611 The Tribunal upheld the addition under Sections 36(1)(iii) and 40A(2)(b), disallowance under Section 14A with Rule 8D, and interest levy under Sections 234A, 234B, and 234C. The disallowance of foundation day expenses was upheld, and the adhoc disallowance of various expenses was reduced to 5%. The appeal was partly allowed, with the Tribunal dismissing some grounds and directing a reduction in the adhoc disallowance percentage. Case-Laws Income Tax Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263611