https://www.taxtmi.com/caselaws?id=200075 The ITAT allowed the appeal, deleting the addition made by the assessing officer and upheld by the CIT(A). The rejection of books of account was overturned based on a precedent set by the jurisdictional High Court, which held that no further disallowance could be made. The disallowance under section 40(a)(ia) was also deleted, contrary to the CIT(A)'s decision, as it was found that the finance charges disallowed were not justified due to non-payment of TDS. The appellant's arguments were supported by the High Court's judgment, resulting in the deletion of the addition. en-us Wed, 11 Dec 2013 00:00:00 +0530 Mon, 19 Mar 2018 16:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200075 The ITAT allowed the appeal, deleting the addition made by the assessing officer and upheld by the CIT(A). The rejection of books of account was overturned based on a precedent set by the jurisdictional High Court, which held that no further disallowance could be made. The disallowance under section 40(a)(ia) was also deleted, contrary to the CIT(A)'s decision, as it was found that the finance charges disallowed were not justified due to non-payment of TDS. The appellant's arguments were supported by the High Court's judgment, resulting in the deletion of the addition. Case-Laws Income Tax Wed, 11 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200075