https://www.taxtmi.com/caselaws?id=334516 The ITAT Kolkata allowed the appellant's appeal for statistical purposes, remanding both issues back to the AO for fresh adjudication. Regarding disallowance under section 14A, the tribunal held that investments in equity shares were strategic and not subject to disallowance, reversing the lower authorities' order. However, the matter concerning HUDCO bonds was remanded for further assessment. Concerning disallowance under section 40(a)(ia), the ITAT directed a fresh adjudication by the AO, emphasizing the need for a fair opportunity of hearing and confronting any adverse material. en-us Fri, 21 Oct 2016 00:00:00 +0530 Mon, 14 Nov 2016 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334516 The ITAT Kolkata allowed the appellant's appeal for statistical purposes, remanding both issues back to the AO for fresh adjudication. Regarding disallowance under section 14A, the tribunal held that investments in equity shares were strategic and not subject to disallowance, reversing the lower authorities' order. However, the matter concerning HUDCO bonds was remanded for further assessment. Concerning disallowance under section 40(a)(ia), the ITAT directed a fresh adjudication by the AO, emphasizing the need for a fair opportunity of hearing and confronting any adverse material. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334516