https://www.taxtmi.com/caselaws?id=310366 The Tribunal partly allowed the appeals, directing the AO to delete disallowances under section 14A as no dividend income was earned, and to allow interest expenses under section 36(1)(iii) for project-related borrowings. Commission expenses were to be allowed proportionally to revenue offered, while disallowances for interest on delayed payments were upheld due to lack of details. The AO's actions were within the scope of limited scrutiny, and the assessment in the name of the erstwhile entity was valid as the assessee failed to inform the AO about the merger. en-us Mon, 14 Nov 2022 00:00:00 +0530 Fri, 20 Oct 2023 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310366 The Tribunal partly allowed the appeals, directing the AO to delete disallowances under section 14A as no dividend income was earned, and to allow interest expenses under section 36(1)(iii) for project-related borrowings. Commission expenses were to be allowed proportionally to revenue offered, while disallowances for interest on delayed payments were upheld due to lack of details. The AO's actions were within the scope of limited scrutiny, and the assessment in the name of the erstwhile entity was valid as the assessee failed to inform the AO about the merger. Case-Laws Income Tax Mon, 14 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310366