https://www.taxtmi.com/caselaws?id=440993 The ITAT allowed the appeal, holding that the provision for standard assets is deductible under section 36(1)(viia). The matter regarding disallowance of member's gift expenses and Golden/Diamond Jubilee expenses was remanded to the CIT(A) for verification of genuineness. The ITAT ruled that no disallowance was warranted under section 14A of the Income Tax Act. The appeal was partly allowed for statistical purposes, with specific issues referred back to the CIT(A) for further examination. en-us Wed, 26 Jul 2023 00:00:00 +0530 Sat, 29 Jul 2023 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440993 The ITAT allowed the appeal, holding that the provision for standard assets is deductible under section 36(1)(viia). The matter regarding disallowance of member's gift expenses and Golden/Diamond Jubilee expenses was remanded to the CIT(A) for verification of genuineness. The ITAT ruled that no disallowance was warranted under section 14A of the Income Tax Act. The appeal was partly allowed for statistical purposes, with specific issues referred back to the CIT(A) for further examination. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440993