https://www.taxtmi.com/caselaws?id=354557 The Tribunal remanded the issue of disallowance of interest under section 40(a)(ia) to the Assessing Officer for further examination, directing that if the appellant proves recipients declared the amount as income, no disallowance should be made. Regarding the addition of amount on account of bogus purchases, the Tribunal reduced the disallowance percentage from 20% to 12.5% in line with consistent tribunal decisions for builder and developer businesses. The appellant's appeal was partly allowed based on the specific facts of the case. en-us Tue, 12 Dec 2017 00:00:00 +0530 Wed, 31 Jan 2018 10:00:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354557 The Tribunal remanded the issue of disallowance of interest under section 40(a)(ia) to the Assessing Officer for further examination, directing that if the appellant proves recipients declared the amount as income, no disallowance should be made. Regarding the addition of amount on account of bogus purchases, the Tribunal reduced the disallowance percentage from 20% to 12.5% in line with consistent tribunal decisions for builder and developer businesses. The appellant's appeal was partly allowed based on the specific facts of the case. Case-Laws Income Tax Tue, 12 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354557