https://www.taxtmi.com/caselaws?id=187618 The Tribunal upheld the CIT (A)'s decisions, dismissing the Revenue's appeal. It affirmed the treatment of interest income as 'income from Profits & Gains of Business or Profession' based on the company's authorized money lending activities. The disallowances under section 14A were also upheld, with the Tribunal directing the AO to verify calculations before finalizing the amounts. The Tribunal confirmed the disallowance of administrative expenses under section 14A, dismissing the Revenue's appeal on all grounds. en-us Fri, 02 Aug 2013 00:00:00 +0530 Fri, 10 Mar 2023 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187618 The Tribunal upheld the CIT (A)'s decisions, dismissing the Revenue's appeal. It affirmed the treatment of interest income as 'income from Profits & Gains of Business or Profession' based on the company's authorized money lending activities. The disallowances under section 14A were also upheld, with the Tribunal directing the AO to verify calculations before finalizing the amounts. The Tribunal confirmed the disallowance of administrative expenses under section 14A, dismissing the Revenue's appeal on all grounds. Case-Laws Income Tax Fri, 02 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187618