https://www.taxtmi.com/caselaws?id=413102 The Tribunal upheld the CIT(A)'s decisions on various issues, including deletion of additions for bogus expenses, deficit on settlement of forward contracts, disallowance of product development expenses, and disallowance of expenses related to job work and bogus purchases. The Tribunal also ruled in favor of the Assessee on the applicability of Section 14A of the Income Tax Act and jurisdiction under Section 153A. The Tribunal emphasized the lack of incriminating material and accepted the Assessee's documentary evidence, aligning its decisions with legal precedents and statutory provisions. en-us Fri, 24 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 20:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413102 The Tribunal upheld the CIT(A)'s decisions on various issues, including deletion of additions for bogus expenses, deficit on settlement of forward contracts, disallowance of product development expenses, and disallowance of expenses related to job work and bogus purchases. The Tribunal also ruled in favor of the Assessee on the applicability of Section 14A of the Income Tax Act and jurisdiction under Section 153A. The Tribunal emphasized the lack of incriminating material and accepted the Assessee's documentary evidence, aligning its decisions with legal precedents and statutory provisions. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413102