https://www.taxtmi.com/caselaws?id=279976 The Tribunal partly allowed the assessee's appeals, remanding specific issues to the AO and CIT(A) for further examination. The disallowance under Section 14A was restricted to the exempt income earned by the assessee, following the decision in Rajmal Lakhichand Vs. JCIT. The claim of expenditure accounted for in subsequent years was allowed based on the Bombay High Court decision, while the addition on account of underestimated sale of scrap was deleted due to lack of proper evidence and reasoning by the AO. The Revenue's appeals were partly allowed for statistical purposes. en-us Wed, 18 Jul 2018 00:00:00 +0530 Mon, 15 Apr 2019 06:09:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279976 The Tribunal partly allowed the assessee's appeals, remanding specific issues to the AO and CIT(A) for further examination. The disallowance under Section 14A was restricted to the exempt income earned by the assessee, following the decision in Rajmal Lakhichand Vs. JCIT. The claim of expenditure accounted for in subsequent years was allowed based on the Bombay High Court decision, while the addition on account of underestimated sale of scrap was deleted due to lack of proper evidence and reasoning by the AO. The Revenue's appeals were partly allowed for statistical purposes. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279976