https://www.taxtmi.com/caselaws?id=343790 The Tribunal determined that the bank guarantee commission cannot be classified as interest for disallowance under Section 14A as it is not akin to borrowing. The investment written off was not subject to disallowance under Rule 8D(iii) as its income was not tax-exempt. The provision for leave encashment was not disallowed based on a jurisdictional High Court decision. The loss on trading in shares was not considered a loss from speculative business as per the explanation to Section 73. The Tribunal found no errors in the assessment order, quashing the CIT's order under Section 263. The appeal by the assessee was allowed. en-us Fri, 24 Mar 2017 00:00:00 +0530 Fri, 02 Jun 2017 06:14:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343790 The Tribunal determined that the bank guarantee commission cannot be classified as interest for disallowance under Section 14A as it is not akin to borrowing. The investment written off was not subject to disallowance under Rule 8D(iii) as its income was not tax-exempt. The provision for leave encashment was not disallowed based on a jurisdictional High Court decision. The loss on trading in shares was not considered a loss from speculative business as per the explanation to Section 73. The Tribunal found no errors in the assessment order, quashing the CIT's order under Section 263. The appeal by the assessee was allowed. Case-Laws Income Tax Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343790