https://www.taxtmi.com/caselaws?id=366487 The court upheld the disallowance of business expenditure under Section 14A related to earning exempt dividend income, rejecting the appellant's argument that the income from investments should be treated as business income. The court found the one percent disallowance reasonable and affirmed the tribunal's decision. Additionally, the court remanded the issue of disallowance under Section 43B for delay in provident fund contributions to the assessing officer for computation in line with relevant case law, allowing deductions for contributions made before filing the return. en-us Wed, 08 Aug 2018 00:00:00 +0530 Wed, 05 Sep 2018 10:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366487 The court upheld the disallowance of business expenditure under Section 14A related to earning exempt dividend income, rejecting the appellant's argument that the income from investments should be treated as business income. The court found the one percent disallowance reasonable and affirmed the tribunal's decision. Additionally, the court remanded the issue of disallowance under Section 43B for delay in provident fund contributions to the assessing officer for computation in line with relevant case law, allowing deductions for contributions made before filing the return. Case-Laws Income Tax Wed, 08 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366487