https://www.taxtmi.com/caselaws?id=383329 The Tribunal upheld the disallowance under section 40A(3) of the Income-tax Act, finding that the payment did not meet Rule 6DD(k) criteria. However, the disallowance under section 14A was overturned as no exempt income was earned. The rejection of books of account and addition on account of extra profit was also overturned, with the Tribunal ruling that proper records were maintained and no intentional concealment was found. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal in a judgment delivered on 19th July 2019. en-us Fri, 19 Jul 2019 00:00:00 +0530 Mon, 22 Jul 2019 06:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383329 The Tribunal upheld the disallowance under section 40A(3) of the Income-tax Act, finding that the payment did not meet Rule 6DD(k) criteria. However, the disallowance under section 14A was overturned as no exempt income was earned. The rejection of books of account and addition on account of extra profit was also overturned, with the Tribunal ruling that proper records were maintained and no intentional concealment was found. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal in a judgment delivered on 19th July 2019. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383329