https://www.taxtmi.com/caselaws?id=327089 The Tribunal ruled in favor of the assessee regarding the addition of Rs. 6,44,44,813, holding it was not taxable income but an advance held in a fiduciary capacity. The Tribunal upheld the disallowance of Rs. 3,11,043 under Section 14A read with Rule 8D(2)(iii), finding the Assessing Officer correctly applied the provisions. The appeal was partly allowed and partly dismissed. en-us Fri, 18 Dec 2015 00:00:00 +0530 Tue, 03 May 2016 09:32:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327089 The Tribunal ruled in favor of the assessee regarding the addition of Rs. 6,44,44,813, holding it was not taxable income but an advance held in a fiduciary capacity. The Tribunal upheld the disallowance of Rs. 3,11,043 under Section 14A read with Rule 8D(2)(iii), finding the Assessing Officer correctly applied the provisions. The appeal was partly allowed and partly dismissed. Case-Laws Income Tax Fri, 18 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327089