https://www.taxtmi.com/caselaws?id=438862 The Tribunal ordered the deletion of the addition of Rs. 5,30,186 related to opening balances of trade creditors, as no fresh transactions existed in the current year and the AO had not completed full additions in the previous year due to balance reconciliation issues. Regarding the disallowance under section 14A of the Income-tax Act, the Tribunal upheld the Rs. 33,978 disallowance but deleted the Rs. 92,108 disallowance towards interest expenses, citing that investments were lower than the assessee's capital. en-us Thu, 08 Jun 2023 00:00:00 +0530 Fri, 09 Jun 2023 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438862 The Tribunal ordered the deletion of the addition of Rs. 5,30,186 related to opening balances of trade creditors, as no fresh transactions existed in the current year and the AO had not completed full additions in the previous year due to balance reconciliation issues. Regarding the disallowance under section 14A of the Income-tax Act, the Tribunal upheld the Rs. 33,978 disallowance but deleted the Rs. 92,108 disallowance towards interest expenses, citing that investments were lower than the assessee's capital. Case-Laws Income Tax Thu, 08 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438862