https://www.taxtmi.com/caselaws?id=390076 Documentary evidence, foreign remittance records, RBI/FDI filings and treaty exchange-of-information material were treated as sufficient to establish the investor's identity, genuineness of the share capital transaction and the immediate source of funds, so the section 68 addition on share capital and premium was deleted. For the vacant property, section 23(1)(c) was applied because the unit remained unlet and vacant during the year, and annual value was directed to be taken at nil. On section 14A, the interest disallowance was deleted where own funds were available, the exempt-income-linked component was to be recomputed only with reference to exempt-income investments, and the mechanical rule 8D approach for book profit under section 115JB was set aside for fresh consideration. en-us Fri, 13 Sep 2019 00:00:00 +0530 Mon, 23 Dec 2019 13:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390076 Documentary evidence, foreign remittance records, RBI/FDI filings and treaty exchange-of-information material were treated as sufficient to establish the investor's identity, genuineness of the share capital transaction and the immediate source of funds, so the section 68 addition on share capital and premium was deleted. For the vacant property, section 23(1)(c) was applied because the unit remained unlet and vacant during the year, and annual value was directed to be taken at nil. On section 14A, the interest disallowance was deleted where own funds were available, the exempt-income-linked component was to be recomputed only with reference to exempt-income investments, and the mechanical rule 8D approach for book profit under section 115JB was set aside for fresh consideration. Case-Laws Income Tax Fri, 13 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390076