https://www.taxtmi.com/caselaws?id=309049 The Tribunal upheld the disallowance of deduction under section 80IC for interest income, citing lack of direct nexus with manufacturing activities. It restored the disallowance issues under section 14A for both assessment years to the AO for fresh adjudication and factual verification of the assessee's claims. The Tribunal also restored the issue of deduction under section 80G to the AO, allowing the assessee to furnish supporting evidence. The appeals were partly allowed for statistical purposes. en-us Tue, 31 May 2022 00:00:00 +0530 Tue, 08 Aug 2023 21:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309049 The Tribunal upheld the disallowance of deduction under section 80IC for interest income, citing lack of direct nexus with manufacturing activities. It restored the disallowance issues under section 14A for both assessment years to the AO for fresh adjudication and factual verification of the assessee's claims. The Tribunal also restored the issue of deduction under section 80G to the AO, allowing the assessee to furnish supporting evidence. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309049