https://www.taxtmi.com/caselaws?id=287128 The Tribunal allowed the appeal partially by deleting the disallowance of interest on advances and the addition under section 41(1) while upholding the disallowance under section 14A. The Tribunal found that interest-free advances were given from interest-free funds, leading to the deletion of the disallowance of interest on advances. Additionally, the Tribunal ruled that the addition under section 41(1) for cessation of liability was unsustainable as the liability was not written off and was settled in subsequent years. However, the disallowance under section 14A for expenditure related to exempt income was upheld. en-us Thu, 16 Mar 2017 00:00:00 +0530 Tue, 31 Mar 2020 12:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287128 The Tribunal allowed the appeal partially by deleting the disallowance of interest on advances and the addition under section 41(1) while upholding the disallowance under section 14A. The Tribunal found that interest-free advances were given from interest-free funds, leading to the deletion of the disallowance of interest on advances. Additionally, the Tribunal ruled that the addition under section 41(1) for cessation of liability was unsustainable as the liability was not written off and was settled in subsequent years. However, the disallowance under section 14A for expenditure related to exempt income was upheld. Case-Laws Income Tax Thu, 16 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287128