https://www.taxtmi.com/caselaws?id=270887 The Tribunal upheld the decision of the ld. First Appellate Authority regarding the liability to deduct tax under section 194I, stating that the assessee was not obligated to deduct tax as an intermediary. In the matter of disallowance under section 14A, the Tribunal supported the assessee's argument that investments were not made from borrowed funds. Additionally, the disallowance under section 40(a)(ia) was deemed unjustified as the assessee was not covered under the relevant sections. The Tribunal dismissed the Revenue's appeals, affirming the decisions of the ld. Commissioner of Income Tax (Appeals) on all issues. en-us Fri, 06 Nov 2015 00:00:00 +0530 Tue, 19 Jan 2016 07:09:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270887 The Tribunal upheld the decision of the ld. First Appellate Authority regarding the liability to deduct tax under section 194I, stating that the assessee was not obligated to deduct tax as an intermediary. In the matter of disallowance under section 14A, the Tribunal supported the assessee's argument that investments were not made from borrowed funds. Additionally, the disallowance under section 40(a)(ia) was deemed unjustified as the assessee was not covered under the relevant sections. The Tribunal dismissed the Revenue's appeals, affirming the decisions of the ld. Commissioner of Income Tax (Appeals) on all issues. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270887