https://www.taxtmi.com/caselaws?id=196493 The appeal was allowed for statistical purposes with specific directions given for each issue. The Tribunal limited the disallowance under section 14A of the Act to 2% of dividend income, citing precedents. The Assessing Officer's adjustment to closing stock value under section 145A was deemed distorted, requiring a fresh examination. Corporate membership fees disallowance was deleted based on High Court decisions. The Tribunal granted relief on setting off brought forward losses and unabsorbed depreciation, emphasizing adherence to legal precedents and accurate financial statement examination. en-us Wed, 25 May 2016 00:00:00 +0530 Sun, 03 Dec 2017 10:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196493 The appeal was allowed for statistical purposes with specific directions given for each issue. The Tribunal limited the disallowance under section 14A of the Act to 2% of dividend income, citing precedents. The Assessing Officer's adjustment to closing stock value under section 145A was deemed distorted, requiring a fresh examination. Corporate membership fees disallowance was deleted based on High Court decisions. The Tribunal granted relief on setting off brought forward losses and unabsorbed depreciation, emphasizing adherence to legal precedents and accurate financial statement examination. Case-Laws Income Tax Wed, 25 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196493