https://www.taxtmi.com/caselaws?id=396798 The ITAT upheld the deletion of the addition on account of subsidy received on TUF, following precedent set in the assessee's favor. Regarding the treatment of subsidy under TUF for book profit computation, the ITAT remitted the issue for fresh consideration in light of High Court decisions. Disallowances under Sections 14A and 36(1)(iii) were upheld based on the availability of interest-free funds. The disallowance related to employees' Provident Fund contributions under Section 36(1)(va) was rejected, aligning with High Court decisions. The ITAT partially allowed Revenue's appeals for statistical purposes, addressing complex issues comprehensively. en-us Thu, 16 Jul 2020 00:00:00 +0530 Sat, 18 Jul 2020 22:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396798 The ITAT upheld the deletion of the addition on account of subsidy received on TUF, following precedent set in the assessee's favor. Regarding the treatment of subsidy under TUF for book profit computation, the ITAT remitted the issue for fresh consideration in light of High Court decisions. Disallowances under Sections 14A and 36(1)(iii) were upheld based on the availability of interest-free funds. The disallowance related to employees' Provident Fund contributions under Section 36(1)(va) was rejected, aligning with High Court decisions. The ITAT partially allowed Revenue's appeals for statistical purposes, addressing complex issues comprehensively. Case-Laws Income Tax Thu, 16 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396798