https://www.taxtmi.com/caselaws?id=337780 The Tribunal ruled in favor of the appellant textile manufacturing company in a tax dispute. Firstly, it held that no disallowance was justified under section 14A read with Rule 8D as the appellant did not claim any expenditure against the dividend income. Secondly, the Tribunal found that the addition of expenditure amounting to Rs. 2.76 lakhs under section 69C was improper as the Assessing Officer violated principles of natural justice by not allowing cross-examination and there was no evidence of cash transactions. The judgment underscores the importance of due process and thorough examination before making income additions. en-us Fri, 06 Jan 2017 00:00:00 +0530 Tue, 17 Jan 2017 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337780 The Tribunal ruled in favor of the appellant textile manufacturing company in a tax dispute. Firstly, it held that no disallowance was justified under section 14A read with Rule 8D as the appellant did not claim any expenditure against the dividend income. Secondly, the Tribunal found that the addition of expenditure amounting to Rs. 2.76 lakhs under section 69C was improper as the Assessing Officer violated principles of natural justice by not allowing cross-examination and there was no evidence of cash transactions. The judgment underscores the importance of due process and thorough examination before making income additions. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337780