https://www.taxtmi.com/caselaws?id=268049 The Tribunal upheld the deletion of Rs. 12,00,000 disallowed for fees and legal expenses, stating the AO failed to justify the disallowance. The Tribunal reversed the CIT(A)'s deletion of Rs. 2,23,715 disallowed for late Provident Fund contributions, aligning with the Gujarat High Court's ruling. Additionally, the Tribunal directed the deletion of Rs. 7,61,908 disallowed under Section 14A read with Rule 8D, emphasizing the need for the AO to establish a nexus and record satisfaction about the claim's correctness. The appeal of the Revenue was partly allowed, while the cross-objection filed by the assessee was allowed. en-us Wed, 30 Sep 2015 00:00:00 +0530 Thu, 19 Nov 2015 06:39:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268049 The Tribunal upheld the deletion of Rs. 12,00,000 disallowed for fees and legal expenses, stating the AO failed to justify the disallowance. The Tribunal reversed the CIT(A)'s deletion of Rs. 2,23,715 disallowed for late Provident Fund contributions, aligning with the Gujarat High Court's ruling. Additionally, the Tribunal directed the deletion of Rs. 7,61,908 disallowed under Section 14A read with Rule 8D, emphasizing the need for the AO to establish a nexus and record satisfaction about the claim's correctness. The appeal of the Revenue was partly allowed, while the cross-objection filed by the assessee was allowed. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268049