https://www.taxtmi.com/caselaws?id=436163 The appeals filed by the Revenue were dismissed, and the cross objection by the assessee was partly allowed. The Tribunal directed the Assessing Officer to restrict disallowance under section 14A to the extent of exempt income and allowed the pro-rata deduction under section 80IB(10). The disallowance of Work-in-Progress was upheld, and the issue under section 40(a)(ia) was remanded for verification. The penalty under section 271(1)(c) was quashed due to a defective notice. en-us Mon, 27 Mar 2023 00:00:00 +0530 Wed, 05 Apr 2023 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436163 The appeals filed by the Revenue were dismissed, and the cross objection by the assessee was partly allowed. The Tribunal directed the Assessing Officer to restrict disallowance under section 14A to the extent of exempt income and allowed the pro-rata deduction under section 80IB(10). The disallowance of Work-in-Progress was upheld, and the issue under section 40(a)(ia) was remanded for verification. The penalty under section 271(1)(c) was quashed due to a defective notice. Case-Laws Income Tax Mon, 27 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436163