https://www.taxtmi.com/caselaws?id=335217 The Tribunal upheld the deletion of additions under Section 68 of the Income Tax Act for both the assessee companies, finding the identity, creditworthiness, and genuineness of transactions established. Regarding the disallowance of expenses under Section 14A, the matter was remanded to the AO for further examination as the assessee's claim was not raised before the lower authorities. The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals for statistical purposes, directing a re-examination of the disallowance under Section 14A. en-us Mon, 05 Sep 2016 00:00:00 +0530 Mon, 28 Nov 2016 12:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335217 The Tribunal upheld the deletion of additions under Section 68 of the Income Tax Act for both the assessee companies, finding the identity, creditworthiness, and genuineness of transactions established. Regarding the disallowance of expenses under Section 14A, the matter was remanded to the AO for further examination as the assessee's claim was not raised before the lower authorities. The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals for statistical purposes, directing a re-examination of the disallowance under Section 14A. Case-Laws Income Tax Mon, 05 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335217