https://www.taxtmi.com/caselaws?id=358528 The Tribunal partly allowed the appeal, deleting disallowances under Sections 36(1)(iii) and 145A, citing commercial expediency and tax neutrality. Double disallowance under Sections 14A and 36(1)(iii) was rectified, reducing disallowances significantly. Disallowance under Section 40A(9) was remanded for verification under Section 37(1) criteria. The Tribunal upheld the CIT(A)'s directions for further verification on certain issues. The decision highlighted the significance of commercial purpose and factual analysis in determining the allowability of expenses under the Income Tax Act. en-us Wed, 11 Apr 2018 00:00:00 +0530 Fri, 13 Apr 2018 08:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358528 The Tribunal partly allowed the appeal, deleting disallowances under Sections 36(1)(iii) and 145A, citing commercial expediency and tax neutrality. Double disallowance under Sections 14A and 36(1)(iii) was rectified, reducing disallowances significantly. Disallowance under Section 40A(9) was remanded for verification under Section 37(1) criteria. The Tribunal upheld the CIT(A)'s directions for further verification on certain issues. The decision highlighted the significance of commercial purpose and factual analysis in determining the allowability of expenses under the Income Tax Act. Case-Laws Income Tax Wed, 11 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358528