https://www.taxtmi.com/caselaws?id=349428 The Tribunal allowed the assessee's appeals challenging disallowance under Section 14A of the Income Tax Act, deduction of bad debts under Section 36(1)(vii), and taxability of interest accrued on securities for the broken period. The Tribunal directed a disallowance of 2% of exempt income under Section 14A, upheld the deduction of bad debts under Section 36(1)(vii) independent of Section 36(1)(viia), and ruled that interest accrued on securities for the broken period is not taxable. The revenue's appeals were dismissed, and the Tribunal's decisions were based on established legal principles and prior judicial rulings. en-us Tue, 03 Oct 2017 00:00:00 +0530 Thu, 12 Oct 2017 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349428 The Tribunal allowed the assessee's appeals challenging disallowance under Section 14A of the Income Tax Act, deduction of bad debts under Section 36(1)(vii), and taxability of interest accrued on securities for the broken period. The Tribunal directed a disallowance of 2% of exempt income under Section 14A, upheld the deduction of bad debts under Section 36(1)(vii) independent of Section 36(1)(viia), and ruled that interest accrued on securities for the broken period is not taxable. The revenue's appeals were dismissed, and the Tribunal's decisions were based on established legal principles and prior judicial rulings. Case-Laws Income Tax Tue, 03 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349428