https://www.taxtmi.com/caselaws?id=295572 The Tribunal dismissed the revenue's appeal regarding the deletion of Rs. 1,68,49,000 under section 40(a)(ia) of the Income Tax Act, 1961. The second issue of deletion of Rs. 30 lakhs on account of compensation from customers was sent back to the AO for re-adjudication. The Tribunal directed the AO to delete the disallowance under section 14A of the Income Tax Act, 1961, as bank charges were found not to constitute part of interest expenses. The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal, with the order pronounced on 16th Jan 2017. en-us Mon, 16 Jan 2017 00:00:00 +0530 Thu, 10 Jun 2021 08:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295572 The Tribunal dismissed the revenue's appeal regarding the deletion of Rs. 1,68,49,000 under section 40(a)(ia) of the Income Tax Act, 1961. The second issue of deletion of Rs. 30 lakhs on account of compensation from customers was sent back to the AO for re-adjudication. The Tribunal directed the AO to delete the disallowance under section 14A of the Income Tax Act, 1961, as bank charges were found not to constitute part of interest expenses. The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal, with the order pronounced on 16th Jan 2017. Case-Laws Income Tax Mon, 16 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295572