https://www.taxtmi.com/caselaws?id=310327 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross-objection. It upheld the CIT(A)'s deletion of disallowances under Sections 80IA and 14A, affirming that the market value should be based on consumer rates and that no disallowance is warranted without exempt income. Additionally, the Tribunal vacated the addition for delayed PF/ESIC payments, aligning with the precedent that contributions made before the return filing due date are allowable. The decisions were grounded in prior rulings and the case's specific facts, ensuring consistent application of legal principles. en-us Fri, 05 Aug 2022 00:00:00 +0530 Wed, 18 Oct 2023 20:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310327 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross-objection. It upheld the CIT(A)'s deletion of disallowances under Sections 80IA and 14A, affirming that the market value should be based on consumer rates and that no disallowance is warranted without exempt income. Additionally, the Tribunal vacated the addition for delayed PF/ESIC payments, aligning with the precedent that contributions made before the return filing due date are allowable. The decisions were grounded in prior rulings and the case's specific facts, ensuring consistent application of legal principles. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310327