https://www.taxtmi.com/caselaws?id=753663 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on both issues. On the first issue, the Tribunal upheld the deletion of the Rs. 5,08,94,301/- addition, as the WIP did not belong to the assessee. On the second issue, the Tribunal supported the restriction of the disallowance under section 14A r.w.r. 8D to Rs. 5,12,548/-, aligning with the exempt income earned. The Tribunal's decisions were grounded in relevant legal principles and precedents, rejecting the Revenue's arguments. en-us Tue, 04 Jun 2024 00:00:00 +0530 Thu, 06 Jun 2024 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753663 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on both issues. On the first issue, the Tribunal upheld the deletion of the Rs. 5,08,94,301/- addition, as the WIP did not belong to the assessee. On the second issue, the Tribunal supported the restriction of the disallowance under section 14A r.w.r. 8D to Rs. 5,12,548/-, aligning with the exempt income earned. The Tribunal's decisions were grounded in relevant legal principles and precedents, rejecting the Revenue's arguments. Case-Laws Income Tax Tue, 04 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753663