https://www.taxtmi.com/caselaws?id=370133 The Tribunal upheld the deletion of disallowance under section 40(a)(ia) of the I.T. Act, amounting to Rs. 2,33,50,158, as the transactions were sales of material, not work contracts subject to Section 194C. Additionally, the Tribunal affirmed the deletion of an addition of Rs. 68,288 under section 14A of the I.T. Act, as no borrowed funds were used for share investments, and Rule 8D disallowance was inapplicable. The Tribunal dismissed the Revenue's appeal, supporting the decisions of the Ld. CIT(A) on both issues. en-us Thu, 01 Nov 2018 00:00:00 +0530 Sat, 10 Nov 2018 07:13:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370133 The Tribunal upheld the deletion of disallowance under section 40(a)(ia) of the I.T. Act, amounting to Rs. 2,33,50,158, as the transactions were sales of material, not work contracts subject to Section 194C. Additionally, the Tribunal affirmed the deletion of an addition of Rs. 68,288 under section 14A of the I.T. Act, as no borrowed funds were used for share investments, and Rule 8D disallowance was inapplicable. The Tribunal dismissed the Revenue's appeal, supporting the decisions of the Ld. CIT(A) on both issues. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370133