https://www.taxtmi.com/caselaws?id=280936 The Tribunal partly allowed the appeal, deleting the upward adjustment for corporate guarantees as not constituting an international transaction. The matter of interest on OFCDs was remitted for re-examination. The disallowance under Section 14A was set aside for fresh consideration, instructing to exclude investments not yielding exempt income. The disallowance under Section 115JB was deleted following a Special Bench decision. The Tribunal directed verification and allowance of credit for TDS and advance tax. The stay petition was dismissed as infructuous. en-us Tue, 20 Mar 2018 00:00:00 +0530 Tue, 28 May 2019 07:27:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280936 The Tribunal partly allowed the appeal, deleting the upward adjustment for corporate guarantees as not constituting an international transaction. The matter of interest on OFCDs was remitted for re-examination. The disallowance under Section 14A was set aside for fresh consideration, instructing to exclude investments not yielding exempt income. The disallowance under Section 115JB was deleted following a Special Bench decision. The Tribunal directed verification and allowance of credit for TDS and advance tax. The stay petition was dismissed as infructuous. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280936