https://www.taxtmi.com/caselaws?id=193013 The Tribunal ruled in favor of the assessee on various issues under the Income-tax Act, 1961. It held that interest on interest-free advances to a charitable hospital was allowable due to commercial expediency. Disallowance under Section 14A was rejected as investments were made from own funds. Penalties under Section 271(1)(c) were canceled as underlying additions were deleted. Interest under Sections 234B and 234D was directed to be adjusted accordingly. The Tribunal consistently favored the assessee, emphasizing own funds sufficiency and commercial rationale in its decisions. en-us Fri, 18 Mar 2016 00:00:00 +0530 Sat, 08 Jul 2017 07:40:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193013 The Tribunal ruled in favor of the assessee on various issues under the Income-tax Act, 1961. It held that interest on interest-free advances to a charitable hospital was allowable due to commercial expediency. Disallowance under Section 14A was rejected as investments were made from own funds. Penalties under Section 271(1)(c) were canceled as underlying additions were deleted. Interest under Sections 234B and 234D was directed to be adjusted accordingly. The Tribunal consistently favored the assessee, emphasizing own funds sufficiency and commercial rationale in its decisions. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193013