https://www.taxtmi.com/caselaws?id=414922 The ITAT upheld the CIT(A)'s decisions to delete disallowance made under section 14A of the Income Tax Act due to the absence of exempt income. The issue of subcontract payments was remitted back to the AO for further examination as the CIT(A) did not adequately verify the genuineness of the expenses. However, the ITAT affirmed the deletion of excess debit in liquor purchases by the CIT(A), emphasizing the importance of considering relevant evidence. The Revenue's appeal was partially allowed for statistical purposes on the subcontract payments issue, underscoring the significance of substantiating expenses in tax assessments. en-us Fri, 01 Oct 2021 00:00:00 +0530 Fri, 19 Nov 2021 21:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414922 The ITAT upheld the CIT(A)'s decisions to delete disallowance made under section 14A of the Income Tax Act due to the absence of exempt income. The issue of subcontract payments was remitted back to the AO for further examination as the CIT(A) did not adequately verify the genuineness of the expenses. However, the ITAT affirmed the deletion of excess debit in liquor purchases by the CIT(A), emphasizing the importance of considering relevant evidence. The Revenue's appeal was partially allowed for statistical purposes on the subcontract payments issue, underscoring the significance of substantiating expenses in tax assessments. Case-Laws Income Tax Fri, 01 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414922