https://www.taxtmi.com/caselaws?id=357933 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 36(1)(iii) of the Income Tax Act, as the advances to the sister concern were deemed for business purposes. Additionally, the Tribunal confirmed the reduction of the disallowance under Section 14A read with Rule 8D, reducing it to Rs. 29,560/- due to incorrect calculations by the AO. The Tribunal dismissed the revenue's appeal, citing consistent facts and legal precedents. en-us Tue, 20 Mar 2018 00:00:00 +0530 Thu, 24 May 2018 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357933 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 36(1)(iii) of the Income Tax Act, as the advances to the sister concern were deemed for business purposes. Additionally, the Tribunal confirmed the reduction of the disallowance under Section 14A read with Rule 8D, reducing it to Rs. 29,560/- due to incorrect calculations by the AO. The Tribunal dismissed the revenue's appeal, citing consistent facts and legal precedents. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357933