https://www.taxtmi.com/caselaws?id=311302 ITAT Kolkata allowed the assessee's appeal partly. Disallowance under Section 14A was reduced from Rs. 41.86 lakh to Rs. 6 lakh as interest-free funds exceeded investments, making interest disallowance unjustified. Addition under Section 68 for unexplained share capital and unsecured loans was deleted as the assessee proved identity, creditworthiness, and genuineness of transactions. Unreconciled duty drawback addition was deleted as the amount was received and taxed in subsequent year. Bad debt claim was allowed following SC precedent. Deduction under Section 80G on CSR expenses was permitted. en-us Fri, 31 Mar 2023 00:00:00 +0530 Tue, 19 Dec 2023 06:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311302 ITAT Kolkata allowed the assessee's appeal partly. Disallowance under Section 14A was reduced from Rs. 41.86 lakh to Rs. 6 lakh as interest-free funds exceeded investments, making interest disallowance unjustified. Addition under Section 68 for unexplained share capital and unsecured loans was deleted as the assessee proved identity, creditworthiness, and genuineness of transactions. Unreconciled duty drawback addition was deleted as the amount was received and taxed in subsequent year. Bad debt claim was allowed following SC precedent. Deduction under Section 80G on CSR expenses was permitted. Case-Laws Income Tax Fri, 31 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311302