https://www.taxtmi.com/caselaws?id=432462 The appeal was partly allowed by the tribunal. The summary dismissal of the appeal by the CIT(A) was deemed unjustified due to procedural lapses, and the appeal was allowed on this ground. Disallowance of interest expenses was overturned as the assessee had sufficient interest-free funds. Disallowance under Section 14A was adjusted, excluding certain charges and considering only dividend-yielding investments. Disallowance of subscription expenses was upheld as not for commercial expediency, while disallowance of service charges was overturned. The tribunal found a violation of natural justice by the CIT(A) and allowed the appeal on this ground. en-us Fri, 09 Dec 2022 00:00:00 +0530 Fri, 06 Jan 2023 09:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432462 The appeal was partly allowed by the tribunal. The summary dismissal of the appeal by the CIT(A) was deemed unjustified due to procedural lapses, and the appeal was allowed on this ground. Disallowance of interest expenses was overturned as the assessee had sufficient interest-free funds. Disallowance under Section 14A was adjusted, excluding certain charges and considering only dividend-yielding investments. Disallowance of subscription expenses was upheld as not for commercial expediency, while disallowance of service charges was overturned. The tribunal found a violation of natural justice by the CIT(A) and allowed the appeal on this ground. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432462