https://www.taxtmi.com/caselaws?id=359610 The tribunal partly allowed the appeal, making significant deletions and reclassifications of additions. The disallowance of professional expenses under section 40(a)(ia) was partly upheld, while the disallowance under section 14A read with Rule 8D was restricted. The addition for deemed dividend under section 2(22)(e) was entirely deleted. The addition for undisclosed income under section 68 was sustained but reclassified under a different category. The tribunal allowed setting off income from other sources against brought forward losses and depreciation. Interest under section 234B on deemed income was dismissed due to the deletion of the relevant addition. en-us Wed, 07 Mar 2018 00:00:00 +0530 Wed, 02 May 2018 21:06:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359610 The tribunal partly allowed the appeal, making significant deletions and reclassifications of additions. The disallowance of professional expenses under section 40(a)(ia) was partly upheld, while the disallowance under section 14A read with Rule 8D was restricted. The addition for deemed dividend under section 2(22)(e) was entirely deleted. The addition for undisclosed income under section 68 was sustained but reclassified under a different category. The tribunal allowed setting off income from other sources against brought forward losses and depreciation. Interest under section 234B on deemed income was dismissed due to the deletion of the relevant addition. Case-Laws Income Tax Wed, 07 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359610