https://www.taxtmi.com/caselaws?id=753723 ITAT Delhi dismissed Revenue's appeal on multiple grounds. The tribunal upheld CIT(A)'s decision allowing contractor payments for loading/unloading services, finding payments were made through banking channels with TDS deducted and contractors' statements confirmed services provided. Addition under Section 69 for unexplained investment was deleted as no land purchase actually occurred, only a proposal. Sales-tax subsidy under Maharashtra Package Scheme was held to be capital receipt, with matter restored to AO for quantification. Section 14A disallowance was remanded to AO for fresh examination regarding dividend-earning investments. en-us Tue, 04 Jun 2024 00:00:00 +0530 Fri, 07 Jun 2024 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753723 ITAT Delhi dismissed Revenue's appeal on multiple grounds. The tribunal upheld CIT(A)'s decision allowing contractor payments for loading/unloading services, finding payments were made through banking channels with TDS deducted and contractors' statements confirmed services provided. Addition under Section 69 for unexplained investment was deleted as no land purchase actually occurred, only a proposal. Sales-tax subsidy under Maharashtra Package Scheme was held to be capital receipt, with matter restored to AO for quantification. Section 14A disallowance was remanded to AO for fresh examination regarding dividend-earning investments. Case-Laws Income Tax Tue, 04 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753723