https://www.taxtmi.com/caselaws?id=182141 The Tribunal upheld the CIT(Appeals)'s decisions on all contested issues, dismissing the Revenue's appeal. It confirmed the allowance of the entire bad debts written off, rejected the pro-rata disallowance under Section 14A for tax-free income expenditure, permitted the deduction of broken period interest paid on securities, and allowed the contribution to the Retired Employees Medical Benefit Scheme. The Tribunal relied on previous rulings and emphasized the indivisible nature of the business, the absence of a prescribed disallowance method under Section 14A(2), and the bona fide nature of the medical scheme contribution. en-us Wed, 08 Aug 2007 00:00:00 +0530 Tue, 06 Feb 2024 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182141 The Tribunal upheld the CIT(Appeals)'s decisions on all contested issues, dismissing the Revenue's appeal. It confirmed the allowance of the entire bad debts written off, rejected the pro-rata disallowance under Section 14A for tax-free income expenditure, permitted the deduction of broken period interest paid on securities, and allowed the contribution to the Retired Employees Medical Benefit Scheme. The Tribunal relied on previous rulings and emphasized the indivisible nature of the business, the absence of a prescribed disallowance method under Section 14A(2), and the bona fide nature of the medical scheme contribution. Case-Laws Income Tax Wed, 08 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182141