https://www.taxtmi.com/caselaws?id=354691 The High Court ruled in favor of the Assessee, upholding the Tribunal's decision to exclude interest income for calculating the allowable deduction of remuneration under Section 40(b) of the Income Tax Act. The Court also supported the CIT(A)'s deletion of the addition under Section 40(a)(ia) for non-deduction of TDS on Wheeling Charges. Additionally, the Court dismissed the Revenue's appeal regarding the disallowance under Section 80IA(iv)(a) and relied on the precedent set by the Madras High Court in a related case. The decision aligned with established legal precedents, concluding against the Revenue in line with the Maharashtra State Electricity Distribution Co.Ltd case. en-us Mon, 15 Jan 2018 00:00:00 +0530 Fri, 02 Feb 2018 09:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354691 The High Court ruled in favor of the Assessee, upholding the Tribunal's decision to exclude interest income for calculating the allowable deduction of remuneration under Section 40(b) of the Income Tax Act. The Court also supported the CIT(A)'s deletion of the addition under Section 40(a)(ia) for non-deduction of TDS on Wheeling Charges. Additionally, the Court dismissed the Revenue's appeal regarding the disallowance under Section 80IA(iv)(a) and relied on the precedent set by the Madras High Court in a related case. The decision aligned with established legal precedents, concluding against the Revenue in line with the Maharashtra State Electricity Distribution Co.Ltd case. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354691