https://www.taxtmi.com/caselaws?id=298840 The Tribunal ruled in favor of the assessee on all three issues. It held that the profit on the sale of tonnage vessels should not be classified as 'Income from Other Sources' but rather as exempt from taxation. The Tribunal also allowed the deduction under Section 80IA for specific ports, including Karaikal Port, and directed the AO to recalculate the disallowance under Section 14A based on investments generating exempt income. en-us Fri, 08 Jun 2018 00:00:00 +0530 Tue, 23 Nov 2021 06:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298840 The Tribunal ruled in favor of the assessee on all three issues. It held that the profit on the sale of tonnage vessels should not be classified as 'Income from Other Sources' but rather as exempt from taxation. The Tribunal also allowed the deduction under Section 80IA for specific ports, including Karaikal Port, and directed the AO to recalculate the disallowance under Section 14A based on investments generating exempt income. Case-Laws Income Tax Fri, 08 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298840