https://www.taxtmi.com/caselaws?id=397126 The Tribunal directed the Ld. AO to verify if investments in subsidiary companies were made from interest-bearing funds and to delete the addition under section 14A if substantiated. Regarding the invocation of section 40(a)(ia) for failure to deduct tax at source on interest payments, the issue was remitted for proper examination as the default status was not verified. The appeal was allowed for statistical purposes due to the Covid-19 pandemic, deviating from the usual time frame for judgment, influenced by a prior case, and pronounced on 24th July 2020. en-us Fri, 24 Jul 2020 00:00:00 +0530 Wed, 05 Aug 2020 09:38:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397126 The Tribunal directed the Ld. AO to verify if investments in subsidiary companies were made from interest-bearing funds and to delete the addition under section 14A if substantiated. Regarding the invocation of section 40(a)(ia) for failure to deduct tax at source on interest payments, the issue was remitted for proper examination as the default status was not verified. The appeal was allowed for statistical purposes due to the Covid-19 pandemic, deviating from the usual time frame for judgment, influenced by a prior case, and pronounced on 24th July 2020. Case-Laws Income Tax Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397126