https://www.taxtmi.com/caselaws?id=278419 The Tribunal allowed the appeals in part, directing the AO to reconsider disallowances and make necessary adjustments to prevent double taxation. The disallowance of leave encashment provision under Section 43B was referred back for fresh adjudication. The disallowance of interest paid on TDS under Section 40(a)(ii) was deemed unjustified. The Tribunal instructed the AO to adjust interest income on inter-corporate deposits to avoid double taxation and ruled in favor of the assessee regarding disallowance under Section 36(1)(iii) and Section 14A read with Rule 8D. The AO was directed to verify and adjust additions based on AIR data mismatch to prevent double taxation. en-us Wed, 21 Jun 2017 00:00:00 +0530 Fri, 01 Feb 2019 06:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278419 The Tribunal allowed the appeals in part, directing the AO to reconsider disallowances and make necessary adjustments to prevent double taxation. The disallowance of leave encashment provision under Section 43B was referred back for fresh adjudication. The disallowance of interest paid on TDS under Section 40(a)(ii) was deemed unjustified. The Tribunal instructed the AO to adjust interest income on inter-corporate deposits to avoid double taxation and ruled in favor of the assessee regarding disallowance under Section 36(1)(iii) and Section 14A read with Rule 8D. The AO was directed to verify and adjust additions based on AIR data mismatch to prevent double taxation. Case-Laws Income Tax Wed, 21 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278419