https://www.taxtmi.com/caselaws?id=198101 The ITAT Delhi upheld the decisions of the Ld. CIT (A) in both issues, dismissing the department's appeal. Regarding disallowance under sections 40(a)(ia), the ITAT ruled that no TDS was necessary on bank guarantee commission as it did not involve a principal-agent relationship. Concerning disallowance under section 14A, the ITAT agreed that since no exempt income was earned, no expenditure could be attributed to earning exempt income, thus no disallowance was warranted. The ITAT provided detailed legal reasoning and cited precedents to support their findings. en-us Thu, 16 Nov 2017 00:00:00 +0530 Mon, 22 Jan 2018 21:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198101 The ITAT Delhi upheld the decisions of the Ld. CIT (A) in both issues, dismissing the department's appeal. Regarding disallowance under sections 40(a)(ia), the ITAT ruled that no TDS was necessary on bank guarantee commission as it did not involve a principal-agent relationship. Concerning disallowance under section 14A, the ITAT agreed that since no exempt income was earned, no expenditure could be attributed to earning exempt income, thus no disallowance was warranted. The ITAT provided detailed legal reasoning and cited precedents to support their findings. Case-Laws Income Tax Thu, 16 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198101