https://www.taxtmi.com/caselaws?id=333324 The Tribunal remitted the issue of undisclosed interest income back to the AO for verification. The Tribunal allowed the assessee's appeal regarding disallowance of payments under Section 40(a)(ia) and disallowance under Section 14A for expenses related to exempt income. It ruled in favor of the assessee on the classification of capital gains as business income and disallowance of bad debts. Additionally, the Tribunal upheld the acceptance of the revised computation of income without a revised return. The results include the partial allowance of the assessee's appeal for AY 2007-08 and the complete allowance of the assessee's appeal for AY 2008-09. The Revenue's appeal for both years was partly allowed. en-us Tue, 03 May 2016 00:00:00 +0530 Wed, 05 Oct 2016 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333324 The Tribunal remitted the issue of undisclosed interest income back to the AO for verification. The Tribunal allowed the assessee's appeal regarding disallowance of payments under Section 40(a)(ia) and disallowance under Section 14A for expenses related to exempt income. It ruled in favor of the assessee on the classification of capital gains as business income and disallowance of bad debts. Additionally, the Tribunal upheld the acceptance of the revised computation of income without a revised return. The results include the partial allowance of the assessee's appeal for AY 2007-08 and the complete allowance of the assessee's appeal for AY 2008-09. The Revenue's appeal for both years was partly allowed. Case-Laws Income Tax Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333324