https://www.taxtmi.com/caselaws?id=444559 The HC upheld the CIT(A)'s decisions on two issues for Assessment Year 2009-10. First, it agreed with the deletion of the Rs. 11,20,43,563/- disallowance under Section 40(a)(ia) of the Income Tax Act, as the payments made were deemed trade discounts, not commissions, negating the requirement for TAS deduction. Second, it supported the reduction of the disallowance under Section 14A to Rs. 13,45,785/-, as the AO improperly included investments unrelated to earning exempt income. The HC concluded no substantial legal questions arose and dismissed the appeal. en-us Tue, 19 Sep 2023 00:00:00 +0530 Wed, 18 Oct 2023 07:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444559 The HC upheld the CIT(A)'s decisions on two issues for Assessment Year 2009-10. First, it agreed with the deletion of the Rs. 11,20,43,563/- disallowance under Section 40(a)(ia) of the Income Tax Act, as the payments made were deemed trade discounts, not commissions, negating the requirement for TAS deduction. Second, it supported the reduction of the disallowance under Section 14A to Rs. 13,45,785/-, as the AO improperly included investments unrelated to earning exempt income. The HC concluded no substantial legal questions arose and dismissed the appeal. Case-Laws Income Tax Tue, 19 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444559