https://www.taxtmi.com/caselaws?id=310297 The Tribunal partially allowed the appellant's appeal. It upheld the disallowances related to salary and interest to specific individuals under sections 40A(2)(b) and 37 read with 40A(2)(b) of the Income Tax Act, 1961, citing lack of valid justification and proof of ownership or services rendered. However, the Tribunal allowed the appeal regarding the disallowance under section 14A, as no dividend income was earned during the year, aligning with a Delhi HC decision, and thereby deleted the disallowance under this section. en-us Thu, 14 Nov 2019 00:00:00 +0530 Wed, 18 Oct 2023 05:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310297 The Tribunal partially allowed the appellant's appeal. It upheld the disallowances related to salary and interest to specific individuals under sections 40A(2)(b) and 37 read with 40A(2)(b) of the Income Tax Act, 1961, citing lack of valid justification and proof of ownership or services rendered. However, the Tribunal allowed the appeal regarding the disallowance under section 14A, as no dividend income was earned during the year, aligning with a Delhi HC decision, and thereby deleted the disallowance under this section. Case-Laws Income Tax Thu, 14 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310297