https://www.taxtmi.com/caselaws?id=312741 The ITAT Ahmedabad remanded three issues back to the Assessing Officer for fresh adjudication. First, regarding disallowance under section 14A for interest claims, the Tribunal followed its earlier decision directing the AO to examine facts and ensure any disallowance does not exceed exempted income earned. Second, concerning guarantee fees paid to Gujarat Government for capital work-in-progress, the matter was remanded for verification of the certificate showing loans were utilized for power plant construction with no capital work-in-progress during FY 2014-15. Third, the disallowance under section 14A read with Rule 8D for MAT provisions was also remanded for verification and proper adjudication by the AO. en-us Wed, 14 Dec 2022 00:00:00 +0530 Tue, 05 Mar 2024 08:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312741 The ITAT Ahmedabad remanded three issues back to the Assessing Officer for fresh adjudication. First, regarding disallowance under section 14A for interest claims, the Tribunal followed its earlier decision directing the AO to examine facts and ensure any disallowance does not exceed exempted income earned. Second, concerning guarantee fees paid to Gujarat Government for capital work-in-progress, the matter was remanded for verification of the certificate showing loans were utilized for power plant construction with no capital work-in-progress during FY 2014-15. Third, the disallowance under section 14A read with Rule 8D for MAT provisions was also remanded for verification and proper adjudication by the AO. Case-Laws Income Tax Wed, 14 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312741