https://www.taxtmi.com/caselaws?id=359772 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection, confirming the CIT(A)'s detailed and reasoned findings on all issues. The rejection of books of accounts under Section 145(3) was overturned due to lack of specific adverse material. The deduction under Section 80IC for the Dehradun unit was allowed as manufacturing activities were proven. Addition on account of alleged sham transactions was deleted as transactions were legitimate. Disallowances under Sections 40(a)(ia) and 14A were reduced based on valid grounds. Interest income was correctly classified as "Income from Other Sources." en-us Mon, 23 Apr 2018 00:00:00 +0530 Fri, 04 May 2018 08:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359772 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection, confirming the CIT(A)'s detailed and reasoned findings on all issues. The rejection of books of accounts under Section 145(3) was overturned due to lack of specific adverse material. The deduction under Section 80IC for the Dehradun unit was allowed as manufacturing activities were proven. Addition on account of alleged sham transactions was deleted as transactions were legitimate. Disallowances under Sections 40(a)(ia) and 14A were reduced based on valid grounds. Interest income was correctly classified as "Income from Other Sources." Case-Laws Income Tax Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359772