https://www.taxtmi.com/caselaws?id=299437 The Tribunal partly allowed the assessee's appeal regarding advances written off as business loss, remanding the matter for further verification. It upheld the disallowance of personnel and administrative expenses against rental income. The Tribunal allowed the Revenue's appeal on disallowance under Section 14A concerning dividend income, emphasizing that interest expenditure related to investments cannot be considered for business purposes. The Tribunal stressed the importance of clear findings and proper verification by the Assessing Officer, aligning with relevant provisions of the Income Tax Act and judicial precedents. en-us Mon, 04 Sep 2017 00:00:00 +0530 Wed, 15 Dec 2021 09:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299437 The Tribunal partly allowed the assessee's appeal regarding advances written off as business loss, remanding the matter for further verification. It upheld the disallowance of personnel and administrative expenses against rental income. The Tribunal allowed the Revenue's appeal on disallowance under Section 14A concerning dividend income, emphasizing that interest expenditure related to investments cannot be considered for business purposes. The Tribunal stressed the importance of clear findings and proper verification by the Assessing Officer, aligning with relevant provisions of the Income Tax Act and judicial precedents. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299437