https://www.taxtmi.com/caselaws?id=403994 The Tribunal ruled in favor of the assessee in a tax dispute case. The Tribunal directed the Assessing Officer to delete the addition made on professional fees as income, emphasizing against double taxation and noting the tax-neutral nature due to Minimum Alternate Tax (MAT). Additionally, the Tribunal upheld the deletion of disallowance under Section 14A related to interest expenditure, citing lack of actual interest expenditure claimed by the assessee. The Court dismissed certain aspects of the Tax Appeal but admitted it for further consideration on the issue of restricting the addition to book profit under Section 115JB. en-us Fri, 08 Jan 2021 00:00:00 +0530 Wed, 07 Apr 2021 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403994 The Tribunal ruled in favor of the assessee in a tax dispute case. The Tribunal directed the Assessing Officer to delete the addition made on professional fees as income, emphasizing against double taxation and noting the tax-neutral nature due to Minimum Alternate Tax (MAT). Additionally, the Tribunal upheld the deletion of disallowance under Section 14A related to interest expenditure, citing lack of actual interest expenditure claimed by the assessee. The Court dismissed certain aspects of the Tax Appeal but admitted it for further consideration on the issue of restricting the addition to book profit under Section 115JB. Case-Laws Income Tax Fri, 08 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403994