https://www.taxtmi.com/caselaws?id=328312 The Tribunal upheld the CIT(A)'s order in deleting additions under sections 14A and 36(1)(iii) of the Income Tax Act, 1961. The CIT(A) found that the disallowances were not justified as the assessee had substantial own capital and reserves, and no borrowed funds were utilized for the investments and advances. The Tribunal emphasized principles of commercial expediency and consistency in supporting the CIT(A)'s decision. The Revenue's appeal was dismissed, and the CIT(A)'s order was upheld based on a thorough examination of facts and legal principles. en-us Tue, 24 May 2016 00:00:00 +0530 Wed, 01 Jun 2016 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328312 The Tribunal upheld the CIT(A)'s order in deleting additions under sections 14A and 36(1)(iii) of the Income Tax Act, 1961. The CIT(A) found that the disallowances were not justified as the assessee had substantial own capital and reserves, and no borrowed funds were utilized for the investments and advances. The Tribunal emphasized principles of commercial expediency and consistency in supporting the CIT(A)'s decision. The Revenue's appeal was dismissed, and the CIT(A)'s order was upheld based on a thorough examination of facts and legal principles. Case-Laws Income Tax Tue, 24 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328312