https://www.taxtmi.com/caselaws?id=387709 The Tribunal dismissed the Revenue's appeals on all three issues. Regarding disallowance under section 14A and its adjustment to Book Profit under section 115JB, the Tribunal held that no disallowance was warranted as no exempt income was earned. The addition on account of suppression of production/sale of tiles was rejected due to lack of concrete evidence. The disallowance of depreciation on a car was deleted as the assessee was recognized as the beneficial owner. The decisions of the CIT(A) were upheld, resulting in the dismissal of the Revenue's appeals on all grounds. en-us Wed, 23 Oct 2019 00:00:00 +0530 Wed, 30 Oct 2019 11:52:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387709 The Tribunal dismissed the Revenue's appeals on all three issues. Regarding disallowance under section 14A and its adjustment to Book Profit under section 115JB, the Tribunal held that no disallowance was warranted as no exempt income was earned. The addition on account of suppression of production/sale of tiles was rejected due to lack of concrete evidence. The disallowance of depreciation on a car was deleted as the assessee was recognized as the beneficial owner. The decisions of the CIT(A) were upheld, resulting in the dismissal of the Revenue's appeals on all grounds. Case-Laws Income Tax Wed, 23 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387709