https://www.taxtmi.com/caselaws?id=753039 ITAT Chennai ruled on multiple issues in this tax appeal. The tribunal fully allowed the assessee's claim regarding disallowance under Section 14A read with Rule 8D, finding no exempt income was earned, thus no disallowance was warranted. The AO was directed to delete the addition. For TDS under Section 195 on listing charges paid to Bank of New York, the matter was remanded to AO for re-examination considering DTAA provisions. The tribunal upheld CIT(A)'s decision disallowing prior period expenditure claims. Regarding carbon credit income write-off, the issue was remanded to AO for fresh examination, considering the Department's consistent treatment of carbon credit income in previous years from 2007-08 to 2011-12. en-us Fri, 05 Jan 2024 00:00:00 +0530 Thu, 23 May 2024 08:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753039 ITAT Chennai ruled on multiple issues in this tax appeal. The tribunal fully allowed the assessee's claim regarding disallowance under Section 14A read with Rule 8D, finding no exempt income was earned, thus no disallowance was warranted. The AO was directed to delete the addition. For TDS under Section 195 on listing charges paid to Bank of New York, the matter was remanded to AO for re-examination considering DTAA provisions. The tribunal upheld CIT(A)'s decision disallowing prior period expenditure claims. Regarding carbon credit income write-off, the issue was remanded to AO for fresh examination, considering the Department's consistent treatment of carbon credit income in previous years from 2007-08 to 2011-12. Case-Laws Income Tax Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753039