https://www.taxtmi.com/caselaws?id=303180 The tribunal partly allowed the appellant's appeals, providing detailed reasoning and directions for various issues raised. The disallowance of provision for expenses in AY 2004-05 and AY 2005-06 was upheld due to lack of evidence. A 2% disallowance of exempt income under section 14A was agreed upon. The disallowance of deduction under section 80-HHC was restricted to a specific amount. The tribunal directed that the disallowance for earning exempt income under section 14A while computing income under section 115JB should not exceed the amount already disallowed. The issue of deduction of eligible profits under section 80-HHC was remitted for re-examination. The taxation of provision of expenses reversed from earlier years was to be verified by the Assessing Officer to avoid double taxation. en-us Thu, 07 Apr 2016 00:00:00 +0530 Thu, 07 Jul 2022 21:22:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303180 The tribunal partly allowed the appellant's appeals, providing detailed reasoning and directions for various issues raised. The disallowance of provision for expenses in AY 2004-05 and AY 2005-06 was upheld due to lack of evidence. A 2% disallowance of exempt income under section 14A was agreed upon. The disallowance of deduction under section 80-HHC was restricted to a specific amount. The tribunal directed that the disallowance for earning exempt income under section 14A while computing income under section 115JB should not exceed the amount already disallowed. The issue of deduction of eligible profits under section 80-HHC was remitted for re-examination. The taxation of provision of expenses reversed from earlier years was to be verified by the Assessing Officer to avoid double taxation. Case-Laws Income Tax Thu, 07 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303180