https://www.taxtmi.com/caselaws?id=399114 The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal. It upheld the deduction under section 80IB(11A) for the integrated business activities of the assessee. The addition under section 69 was deleted as the amounts were already taxed in the hands of individuals. Disallowances under sections 40A(3) and 40(a)(ia) were confirmed partially. The addition for personal expenses was deleted, following previous years' treatment. The disallowance under section 14A read with Rule 8D was deleted as the investments were made from own funds without incurring interest expenses for earning exempt income. en-us Wed, 30 Sep 2020 00:00:00 +0530 Thu, 01 Oct 2020 22:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399114 The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal. It upheld the deduction under section 80IB(11A) for the integrated business activities of the assessee. The addition under section 69 was deleted as the amounts were already taxed in the hands of individuals. Disallowances under sections 40A(3) and 40(a)(ia) were confirmed partially. The addition for personal expenses was deleted, following previous years' treatment. The disallowance under section 14A read with Rule 8D was deleted as the investments were made from own funds without incurring interest expenses for earning exempt income. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399114