https://www.taxtmi.com/caselaws?id=365946 The Tribunal partially allowed the assessee's appeal regarding disallowance of expenditure related to exempt income under Section 14A, directing an addition of 5% of exempt income as justified expenditure. The Tribunal also ruled in favor of the assessee regarding disallowance of expenses under Section 40(a)(ia) for failure to deduct TDS, stating that Section 195 was not applicable. The Tribunal upheld the CIT(A)'s decision on disallowance of sponsorship expenses paid to non-residents and site services/project commission, finding Section 195 inapplicable. Additionally, the Tribunal supported the assessee's method of recognizing income on advances received from projects, deleting the AO's addition. en-us Fri, 24 Aug 2018 00:00:00 +0530 Mon, 27 Aug 2018 08:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365946 The Tribunal partially allowed the assessee's appeal regarding disallowance of expenditure related to exempt income under Section 14A, directing an addition of 5% of exempt income as justified expenditure. The Tribunal also ruled in favor of the assessee regarding disallowance of expenses under Section 40(a)(ia) for failure to deduct TDS, stating that Section 195 was not applicable. The Tribunal upheld the CIT(A)'s decision on disallowance of sponsorship expenses paid to non-residents and site services/project commission, finding Section 195 inapplicable. Additionally, the Tribunal supported the assessee's method of recognizing income on advances received from projects, deleting the AO's addition. Case-Laws Income Tax Fri, 24 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365946