https://www.taxtmi.com/caselaws?id=412061 The tribunal upheld the decisions of the Ld. CIT(A) in a case involving disallowance under section 14A of the Income Tax Act and addition on account of alleged bogus purchases. The tribunal dismissed the revenue's appeal, affirming the deletion of interest disallowance under Rule 8D(2)(ii) and the estimation of the addition at 12.5% for alleged bogus purchases. The tribunal found the decisions of the Ld. CIT(A) reasonable and in line with precedents, ultimately upholding them. en-us Mon, 06 Sep 2021 00:00:00 +0530 Thu, 09 Sep 2021 08:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412061 The tribunal upheld the decisions of the Ld. CIT(A) in a case involving disallowance under section 14A of the Income Tax Act and addition on account of alleged bogus purchases. The tribunal dismissed the revenue's appeal, affirming the deletion of interest disallowance under Rule 8D(2)(ii) and the estimation of the addition at 12.5% for alleged bogus purchases. The tribunal found the decisions of the Ld. CIT(A) reasonable and in line with precedents, ultimately upholding them. Case-Laws Income Tax Mon, 06 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412061