https://www.taxtmi.com/caselaws?id=393087 The High Court dismissed the Revenue's appeal, upholding the decisions of the CIT(A) and the Tribunal on various issues. The disallowance under Section 40(a)(ia) for non-deduction of tax on commission payable to foreign agents was deleted based on prior favorable decisions. The disallowance under Section 36(1)(iii) for interest expenses was rejected due to lack of evidence supporting the Assessing Officer's presumption. The eligibility of deduction under Section 80IA(4) for steam as "power" was allowed, and the disallowance under Section 14A for investments yielding no exempt income was also overturned. en-us Mon, 17 Feb 2020 00:00:00 +0530 Mon, 22 Jun 2020 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393087 The High Court dismissed the Revenue's appeal, upholding the decisions of the CIT(A) and the Tribunal on various issues. The disallowance under Section 40(a)(ia) for non-deduction of tax on commission payable to foreign agents was deleted based on prior favorable decisions. The disallowance under Section 36(1)(iii) for interest expenses was rejected due to lack of evidence supporting the Assessing Officer's presumption. The eligibility of deduction under Section 80IA(4) for steam as "power" was allowed, and the disallowance under Section 14A for investments yielding no exempt income was also overturned. Case-Laws Income Tax Mon, 17 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393087