https://www.taxtmi.com/caselaws?id=404085 The Tribunal upheld the CIT(A)'s decision to delete additions under sections 14A, 36(1)(iii), and 2(22)(e) of the Income Tax Act. The Tribunal ruled that disallowances and additions by the Assessing Officer were unwarranted based on the absence of exempt income, availability of interest-free funds, and the requirement for the recipient company to be a shareholder in the lending company under section 2(22)(e). The Tribunal's decision was supported by previous judicial pronouncements and the assessee's financial records. en-us Wed, 03 Feb 2021 00:00:00 +0530 Mon, 15 Feb 2021 13:54:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404085 The Tribunal upheld the CIT(A)'s decision to delete additions under sections 14A, 36(1)(iii), and 2(22)(e) of the Income Tax Act. The Tribunal ruled that disallowances and additions by the Assessing Officer were unwarranted based on the absence of exempt income, availability of interest-free funds, and the requirement for the recipient company to be a shareholder in the lending company under section 2(22)(e). The Tribunal's decision was supported by previous judicial pronouncements and the assessee's financial records. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404085