https://www.taxtmi.com/caselaws?id=345146 The Tribunal directed the Assessing Officer to verify and include only the retention money received within the financial year under consideration and not to include amounts received in subsequent years. The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision that payments for clearing and forwarding charges were not liable for TDS deduction. It restricted the disallowance under Section 14A for exempt income to 5% and confirmed the correct TDS rate for royalty charges. The Tribunal also upheld the CIT(A)'s decision to allow deductions for late PF and ESI payments made before the return filing due date but disallowed the provision for leave encashment beyond the amount debited to the profit and loss account. en-us Tue, 07 Feb 2017 00:00:00 +0530 Mon, 10 Jul 2017 10:50:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345146 The Tribunal directed the Assessing Officer to verify and include only the retention money received within the financial year under consideration and not to include amounts received in subsequent years. The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision that payments for clearing and forwarding charges were not liable for TDS deduction. It restricted the disallowance under Section 14A for exempt income to 5% and confirmed the correct TDS rate for royalty charges. The Tribunal also upheld the CIT(A)'s decision to allow deductions for late PF and ESI payments made before the return filing due date but disallowed the provision for leave encashment beyond the amount debited to the profit and loss account. Case-Laws Income Tax Tue, 07 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345146