https://www.taxtmi.com/caselaws?id=268189 The Tribunal confirmed disallowance under Section 40A(3) due to lack of evidence, deleted additions for bogus expenses in the name of labor contractors, and cessation of liability under Section 41(1). It also deleted unexplained investment additions under Section 69B based on incorrect valuation. The Tribunal allowed higher depreciation on windmill components but reversed the decision on related expenses. It upheld the deduction under Section 80IA(4)(iv) and found no justification for interest levy under Section 234A. The Tribunal directed reworking interest adjustment of seized cash against tax liability, emphasizing the necessity of specific requests from the assessee. en-us Fri, 06 Nov 2015 00:00:00 +0530 Fri, 20 Nov 2015 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268189 The Tribunal confirmed disallowance under Section 40A(3) due to lack of evidence, deleted additions for bogus expenses in the name of labor contractors, and cessation of liability under Section 41(1). It also deleted unexplained investment additions under Section 69B based on incorrect valuation. The Tribunal allowed higher depreciation on windmill components but reversed the decision on related expenses. It upheld the deduction under Section 80IA(4)(iv) and found no justification for interest levy under Section 234A. The Tribunal directed reworking interest adjustment of seized cash against tax liability, emphasizing the necessity of specific requests from the assessee. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268189