https://www.taxtmi.com/caselaws?id=383675 The High Court upheld the Tribunal's decisions on disallowances under sections 40a(ia) and 14A of the Income Tax Act. The Court agreed with the Tribunal that the appellant's transactions were on a principal to principal basis, not attracting provisions of section 194H. Additionally, since the assessee had no exempt income, disallowance under section 14A was unwarranted. The Court dismissed the Income Tax Appeal, finding no errors in the Tribunal's reasoning and interpretations of the law. en-us Mon, 22 Jul 2019 00:00:00 +0530 Sat, 27 Jul 2019 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383675 The High Court upheld the Tribunal's decisions on disallowances under sections 40a(ia) and 14A of the Income Tax Act. The Court agreed with the Tribunal that the appellant's transactions were on a principal to principal basis, not attracting provisions of section 194H. Additionally, since the assessee had no exempt income, disallowance under section 14A was unwarranted. The Court dismissed the Income Tax Appeal, finding no errors in the Tribunal's reasoning and interpretations of the law. Case-Laws Income Tax Mon, 22 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383675