https://www.taxtmi.com/caselaws?id=309337 The Appellate Tribunal ITAT Kolkata upheld the disallowance of employees' contribution to PF and ESI under the Income Tax Act, based on a previous High Court ruling. Additionally, the Tribunal affirmed the Ld. CIT(A)'s directive to recalculate the disallowance under Section 14A of the Act, considering only investments yielding exempt income. Consequently, the Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals for both assessment years. en-us Fri, 31 Mar 2017 00:00:00 +0530 Sat, 26 Aug 2023 08:19:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309337 The Appellate Tribunal ITAT Kolkata upheld the disallowance of employees' contribution to PF and ESI under the Income Tax Act, based on a previous High Court ruling. Additionally, the Tribunal affirmed the Ld. CIT(A)'s directive to recalculate the disallowance under Section 14A of the Act, considering only investments yielding exempt income. Consequently, the Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals for both assessment years. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309337