https://www.taxtmi.com/caselaws?id=313314 ITAT Ahmedabad ruled on multiple tax issues for the assessee. The tribunal upheld CIT(A)'s deletion of interest disallowance u/s 36(1)(iii) on CWIP, finding sufficient interest-free funds available. For foreign commission expenses, the matter was restored to AO for fresh consideration due to lack of proper examination of agreements. The tribunal confirmed deletion of warranty liability provision as reasonable and scientifically based. Interest disallowance on business advances was deleted as advances were made from own funds. Section 14A disallowance was restricted to exempt dividend income amount. Overall, most issues were decided favoring the assessee except foreign commission matters requiring re-examination. en-us Tue, 05 Sep 2023 00:00:00 +0530 Sat, 06 Apr 2024 05:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313314 ITAT Ahmedabad ruled on multiple tax issues for the assessee. The tribunal upheld CIT(A)'s deletion of interest disallowance u/s 36(1)(iii) on CWIP, finding sufficient interest-free funds available. For foreign commission expenses, the matter was restored to AO for fresh consideration due to lack of proper examination of agreements. The tribunal confirmed deletion of warranty liability provision as reasonable and scientifically based. Interest disallowance on business advances was deleted as advances were made from own funds. Section 14A disallowance was restricted to exempt dividend income amount. Overall, most issues were decided favoring the assessee except foreign commission matters requiring re-examination. Case-Laws Income Tax Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313314