https://www.taxtmi.com/caselaws?id=359940 The Tribunal accepted the Department-appointed special audit basis for computation where the assessee's exact income or loss depended on that report, and held that consistency required the same basis to be followed unless displaced on merits. It also held that interest credited to earmarked funds was not taxable as income because it was not available for the assessee's own use. The section 14A disallowance was rejected because no exempt income was received during the year. The section 40(a)(ia) adjustment was not finally decided and was remanded for fresh factual examination and reasoned findings. en-us Wed, 02 May 2018 00:00:00 +0530 Mon, 07 May 2018 08:25:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359940 The Tribunal accepted the Department-appointed special audit basis for computation where the assessee's exact income or loss depended on that report, and held that consistency required the same basis to be followed unless displaced on merits. It also held that interest credited to earmarked funds was not taxable as income because it was not available for the assessee's own use. The section 14A disallowance was rejected because no exempt income was received during the year. The section 40(a)(ia) adjustment was not finally decided and was remanded for fresh factual examination and reasoned findings. Case-Laws Income Tax Wed, 02 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359940