https://www.taxtmi.com/caselaws?id=369158 The Tribunal allowed the assessee's appeal concerning the disallowance under section 14A of the Income Tax Act, reducing the disallowance to Rs. 3,47,930. The Tribunal emphasized the importance of considering revised claims during assessment proceedings to determine the correct income, citing legal precedents. The decision favored the assessee based on the specific circumstances of the case. The issue regarding the valuation of closing stock was not addressed by the Tribunal as the appeal primarily focused on the disallowance under section 14A. en-us Thu, 18 Oct 2018 00:00:00 +0530 Mon, 22 Oct 2018 09:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369158 The Tribunal allowed the assessee's appeal concerning the disallowance under section 14A of the Income Tax Act, reducing the disallowance to Rs. 3,47,930. The Tribunal emphasized the importance of considering revised claims during assessment proceedings to determine the correct income, citing legal precedents. The decision favored the assessee based on the specific circumstances of the case. The issue regarding the valuation of closing stock was not addressed by the Tribunal as the appeal primarily focused on the disallowance under section 14A. Case-Laws Income Tax Thu, 18 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369158