https://www.taxtmi.com/caselaws?id=398791 The Tribunal upheld the CIT(A)'s decision to delete the addition under section 14A read with rule 8D, limiting the disallowance to the exempt income amount. It also affirmed the deletion of the addition on account of prior period expenses under section 43B. Additionally, the Tribunal upheld the deletion of the addition under section 41(1) concerning the cessation of liability and the treatment of professional fees as revenue expenditure. However, the disallowance of employees' contribution to Provident Fund was upheld. The Tribunal partially allowed the assessee's cross-objection regarding the disallowance under section 14A read with rule 8D while determining income under section 115JB. en-us Wed, 19 Aug 2020 00:00:00 +0530 Thu, 24 Sep 2020 11:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398791 The Tribunal upheld the CIT(A)'s decision to delete the addition under section 14A read with rule 8D, limiting the disallowance to the exempt income amount. It also affirmed the deletion of the addition on account of prior period expenses under section 43B. Additionally, the Tribunal upheld the deletion of the addition under section 41(1) concerning the cessation of liability and the treatment of professional fees as revenue expenditure. However, the disallowance of employees' contribution to Provident Fund was upheld. The Tribunal partially allowed the assessee's cross-objection regarding the disallowance under section 14A read with rule 8D while determining income under section 115JB. Case-Laws Income Tax Wed, 19 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398791