https://www.taxtmi.com/caselaws?id=367281 The Tribunal allowed the appeal of the assessee, ruling that the disallowance under Section 40(a)(ia) was not justified as the income was classified under "Income from other sources," indicating a non-business income entity. The Tribunal emphasized the nature of income, absence of profit motive, and the religious nature of the institution's activities, holding that the disallowance was not sustainable. Additionally, the Tribunal noted that the Finance Act 2017 amendment introducing provisions for disallowance under Section 40(a)(ia) against "Income from other sources" was not applicable to the relevant assessment year, leading to the deletion of the disallowance. en-us Thu, 13 Sep 2018 00:00:00 +0530 Tue, 18 Sep 2018 08:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367281 The Tribunal allowed the appeal of the assessee, ruling that the disallowance under Section 40(a)(ia) was not justified as the income was classified under "Income from other sources," indicating a non-business income entity. The Tribunal emphasized the nature of income, absence of profit motive, and the religious nature of the institution's activities, holding that the disallowance was not sustainable. Additionally, the Tribunal noted that the Finance Act 2017 amendment introducing provisions for disallowance under Section 40(a)(ia) against "Income from other sources" was not applicable to the relevant assessment year, leading to the deletion of the disallowance. Case-Laws Income Tax Thu, 13 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367281