https://www.taxtmi.com/caselaws?id=340550 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeals. It directed the exclusion of interest income on capital contribution in partnership firms to avoid double addition in subsequent years. The Tribunal remanded issues of sundry debtors write-off, TDS written off, investment in joint venture written off, and long-term capital loss on the sale of shares back to the AO for proper verification. Disallowances of rent paid under Section 40A(2)(b) and under Section 14A read with Rule 8D were deleted due to lack of substantiation and absence of exempt income, respectively. Penalty under Section 271(1)(c) and interest under Sections 234B and 234C were confirmed. en-us Wed, 15 Feb 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:09:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340550 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeals. It directed the exclusion of interest income on capital contribution in partnership firms to avoid double addition in subsequent years. The Tribunal remanded issues of sundry debtors write-off, TDS written off, investment in joint venture written off, and long-term capital loss on the sale of shares back to the AO for proper verification. Disallowances of rent paid under Section 40A(2)(b) and under Section 14A read with Rule 8D were deleted due to lack of substantiation and absence of exempt income, respectively. Penalty under Section 271(1)(c) and interest under Sections 234B and 234C were confirmed. Case-Laws Income Tax Wed, 15 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340550