https://www.taxtmi.com/caselaws?id=312170 The ITAT remanded the case to the Assessing Officer on three issues. For the disallowance under Section 14A, the ITAT instructed verification of whether investments were made from non-interest-bearing funds, referencing the SC decision in S. A. Builders Limited. Regarding the non-grant of TDS credit, the ITAT directed verification of whether TDS was deducted on income or advances, allowing credit in the correct year. For the enhancement of income by CIT(A), the ITAT deleted the enhancement, stating no income accrued from a proforma invoice, and instructed taxation in the year of actual receipt if applicable. en-us Mon, 30 Sep 2013 00:00:00 +0530 Mon, 05 Feb 2024 15:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312170 The ITAT remanded the case to the Assessing Officer on three issues. For the disallowance under Section 14A, the ITAT instructed verification of whether investments were made from non-interest-bearing funds, referencing the SC decision in S. A. Builders Limited. Regarding the non-grant of TDS credit, the ITAT directed verification of whether TDS was deducted on income or advances, allowing credit in the correct year. For the enhancement of income by CIT(A), the ITAT deleted the enhancement, stating no income accrued from a proforma invoice, and instructed taxation in the year of actual receipt if applicable. Case-Laws Income Tax Mon, 30 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312170