https://www.taxtmi.com/caselaws?id=344022 The Revenue's appeal against the deletion of the addition under Section 2(22)(e) of the Income Tax Act was dismissed. The Tribunal upheld the CIT(A)'s decision, stating that only the direct shareholding of the assessee should be considered, not including the subsidiary's shareholding. Additionally, the appeal regarding the disallowance of expenses under Section 14A was also dismissed. The Tribunal confirmed the CIT(A)'s order to restrict the disallowance to investments that yielded tax-free income. The Tribunal's decision was pronounced on 02.06.2017. en-us Fri, 02 Jun 2017 00:00:00 +0530 Wed, 07 Jun 2017 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344022 The Revenue's appeal against the deletion of the addition under Section 2(22)(e) of the Income Tax Act was dismissed. The Tribunal upheld the CIT(A)'s decision, stating that only the direct shareholding of the assessee should be considered, not including the subsidiary's shareholding. Additionally, the appeal regarding the disallowance of expenses under Section 14A was also dismissed. The Tribunal confirmed the CIT(A)'s order to restrict the disallowance to investments that yielded tax-free income. The Tribunal's decision was pronounced on 02.06.2017. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344022