https://www.taxtmi.com/caselaws?id=400309 The ITAT dismissed the revenue's appeal and allowed the assessee's appeal for statistical purposes. The disallowance under Section 14A was re-computed by excluding investments in group concerns and considering only those investments that yielded exempt income. The disallowance under Section 40(a)(ia) for non-deduction of TDS on credit card commission was overturned, as the payments were deemed bank charges not subject to TDS. Additionally, the addition of the forfeited amount on share warrants under Section 43(5) was treated as a capital receipt, not taxable income. en-us Tue, 11 Aug 2020 00:00:00 +0530 Mon, 02 Nov 2020 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400309 The ITAT dismissed the revenue's appeal and allowed the assessee's appeal for statistical purposes. The disallowance under Section 14A was re-computed by excluding investments in group concerns and considering only those investments that yielded exempt income. The disallowance under Section 40(a)(ia) for non-deduction of TDS on credit card commission was overturned, as the payments were deemed bank charges not subject to TDS. Additionally, the addition of the forfeited amount on share warrants under Section 43(5) was treated as a capital receipt, not taxable income. Case-Laws Income Tax Tue, 11 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400309