https://www.taxtmi.com/caselaws?id=353142 The Tribunal dismissed the Revenue's appeal on the disallowance under Section 40(a)(ia) of the Income Tax Act, as the payments were considered purchases of materials and not job work, aligning with previous rulings. Additionally, the Tribunal upheld the CIT(A)'s decision to reject the addition under Section 14A, as investments were made from own funds for business purposes. Lastly, the Tribunal agreed with the CIT(A) on the disallowance under Section 80IA, reducing it to Rs. 20,00,000, as the cash flow statement provided did not sufficiently prove no borrowed funds were utilized. en-us Fri, 22 Dec 2017 00:00:00 +0530 Thu, 28 Dec 2017 08:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353142 The Tribunal dismissed the Revenue's appeal on the disallowance under Section 40(a)(ia) of the Income Tax Act, as the payments were considered purchases of materials and not job work, aligning with previous rulings. Additionally, the Tribunal upheld the CIT(A)'s decision to reject the addition under Section 14A, as investments were made from own funds for business purposes. Lastly, the Tribunal agreed with the CIT(A) on the disallowance under Section 80IA, reducing it to Rs. 20,00,000, as the cash flow statement provided did not sufficiently prove no borrowed funds were utilized. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353142