https://www.taxtmi.com/caselaws?id=395544 The Revenue's appeal for AY 2012-13 was dismissed as withdrawn due to the tax effect falling below the prescribed monetary limit. Regarding the disallowance of interest under Section 14A for AY 2006-07, the Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to disallow only 2% of expenses towards exempted income. Additionally, the Tribunal allowed the assessee's appeal for AY 2006-07 concerning the addition of sale proceeds of rubber trees and timber under Rule 7A, stating that such proceeds cannot be taxed under Rule 7A. The Tribunal also partly allowed the assessee's appeal for AY 2006-07 regarding the addition of provisions under Section 115JB, disagreeing with the addition of provision for lease rent. Lastly, the assessee's appeal for AY 2012-13 was dismissed concerning the disallowance of interest on delayed payment of Agricultural Income Tax. en-us Tue, 19 May 2020 00:00:00 +0530 Wed, 27 May 2020 11:31:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395544 The Revenue's appeal for AY 2012-13 was dismissed as withdrawn due to the tax effect falling below the prescribed monetary limit. Regarding the disallowance of interest under Section 14A for AY 2006-07, the Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to disallow only 2% of expenses towards exempted income. Additionally, the Tribunal allowed the assessee's appeal for AY 2006-07 concerning the addition of sale proceeds of rubber trees and timber under Rule 7A, stating that such proceeds cannot be taxed under Rule 7A. The Tribunal also partly allowed the assessee's appeal for AY 2006-07 regarding the addition of provisions under Section 115JB, disagreeing with the addition of provision for lease rent. Lastly, the assessee's appeal for AY 2012-13 was dismissed concerning the disallowance of interest on delayed payment of Agricultural Income Tax. Case-Laws Income Tax Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395544