https://www.taxtmi.com/caselaws?id=414579 The Tribunal dismissed both the assessee's and Revenue's appeals, upholding the CIT(A)'s decisions. The disallowance under Section 14A for tax-free income was partially upheld, with interest expenditure disallowance deleted but administrative expenses disallowance upheld. The addition on account of deemed house property income was confirmed due to lack of evidence of business use. The deletion of the addition under Section 80IA was upheld based on consistent treatment in earlier years. The Tribunal affirmed the restriction of disallowance under Section 14A for book profit calculation under Section 115JB, following precedent. en-us Mon, 25 Oct 2021 00:00:00 +0530 Thu, 11 Nov 2021 10:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414579 The Tribunal dismissed both the assessee's and Revenue's appeals, upholding the CIT(A)'s decisions. The disallowance under Section 14A for tax-free income was partially upheld, with interest expenditure disallowance deleted but administrative expenses disallowance upheld. The addition on account of deemed house property income was confirmed due to lack of evidence of business use. The deletion of the addition under Section 80IA was upheld based on consistent treatment in earlier years. The Tribunal affirmed the restriction of disallowance under Section 14A for book profit calculation under Section 115JB, following precedent. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414579