https://www.taxtmi.com/caselaws?id=396614 The Tribunal upheld the CIT(A)'s decisions in all three appeals, dismissing the Revenue's appeals. The disallowance under Section 14A read with Rule 8D(2)(ii) was denied due to excess interest-free funds, aligning with legal precedents. Deductions under Section 80-IA were allowed as the assessee qualified as a developer. Disallowance of employees' contributions to PF & ESI was rejected based on a Supreme Court judgment. The deductibility of provisions for future losses was permitted following AS-7 guidelines. Disallowance under Section 14A for book profits under Section 115JB was also ruled in favor of the assessee. en-us Fri, 10 Jul 2020 00:00:00 +0530 Mon, 13 Jul 2020 10:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396614 The Tribunal upheld the CIT(A)'s decisions in all three appeals, dismissing the Revenue's appeals. The disallowance under Section 14A read with Rule 8D(2)(ii) was denied due to excess interest-free funds, aligning with legal precedents. Deductions under Section 80-IA were allowed as the assessee qualified as a developer. Disallowance of employees' contributions to PF & ESI was rejected based on a Supreme Court judgment. The deductibility of provisions for future losses was permitted following AS-7 guidelines. Disallowance under Section 14A for book profits under Section 115JB was also ruled in favor of the assessee. Case-Laws Income Tax Fri, 10 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396614