https://www.taxtmi.com/caselaws?id=339684 The tribunal partly allowed the assessee's appeal, directing adjustments for guarantee commission and fee for the letter of undertaking at a rate of 0.50%, deleting disallowance under section 14A, adding any disallowance under section 14A to book profit under section 115JB, and deleting disallowance on alleged bogus purchases. The tribunal also instructed the examination and granting of TDS credit, addressing the short period for advance tax, and dismissing penalty proceedings under section 271(1)(c) as premature. en-us Fri, 24 Feb 2017 00:00:00 +0530 Fri, 24 Feb 2017 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339684 The tribunal partly allowed the assessee's appeal, directing adjustments for guarantee commission and fee for the letter of undertaking at a rate of 0.50%, deleting disallowance under section 14A, adding any disallowance under section 14A to book profit under section 115JB, and deleting disallowance on alleged bogus purchases. The tribunal also instructed the examination and granting of TDS credit, addressing the short period for advance tax, and dismissing penalty proceedings under section 271(1)(c) as premature. Case-Laws Income Tax Fri, 24 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339684