https://www.taxtmi.com/caselaws?id=287653 The Tribunal partly allowed the appeal filed by the assessee for statistical purposes. The disallowance under Section 35(1)(ii) of the Income Tax Act was not sustained as the retrospective cancellation of approval did not affect the deduction claimed. However, the case was remitted back to the Assessing Officer for verification of the donation return allegations. Regarding the disallowance under Section 14A, the Tribunal remitted the issue back to the Assessing Officer to determine the extent of interest-bearing borrowings used for investments, based on relevant court precedents. en-us Wed, 26 Apr 2017 00:00:00 +0530 Sat, 25 Apr 2020 10:44:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287653 The Tribunal partly allowed the appeal filed by the assessee for statistical purposes. The disallowance under Section 35(1)(ii) of the Income Tax Act was not sustained as the retrospective cancellation of approval did not affect the deduction claimed. However, the case was remitted back to the Assessing Officer for verification of the donation return allegations. Regarding the disallowance under Section 14A, the Tribunal remitted the issue back to the Assessing Officer to determine the extent of interest-bearing borrowings used for investments, based on relevant court precedents. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287653