ITAT ruled against the assessee on various issues including disallowance of expenses and leave encashment.

ITAT ruled against the assessee on various issues including disallowance of expenses and leave encashment. https://www.taxtmi.com/highlights?id=78336 The ITAT upheld disallowance u/s 14A r.w.r.8D for expenditure on earning exempt income due to lack of fund utilization details. Dismissed appeal as assessee failed to provide supporting documents. Dismissed disallowance u/s 40(a)(ia) for TDS non-deduction as assessee admitted lapse. Upheld disallowance u/s 43B for late leave encashment deposit as assessee failed to contest. Rejecting appeal, ITAT cited Chekmate Services Pvt. Ltd. ruling that delayed PF & ESI contributions are not deductible u/s 36(1)(va) if deposited post due date. en-us Mon, 10 Jun 2024 07:46:28 +0530 Mon, 10 Jun 2024 07:46:28 +0530 TaxTMI RSS Generator ITAT ruled against the assessee on various issues including disallowance of expenses and leave encashment. https://www.taxtmi.com/highlights?id=78336 The ITAT upheld disallowance u/s 14A r.w.r.8D for expenditure on earning exempt income due to lack of fund utilization details. Dismissed appeal as assessee failed to provide supporting documents. Dismissed disallowance u/s 40(a)(ia) for TDS non-deduction as assessee admitted lapse. Upheld disallowance u/s 43B for late leave encashment deposit as assessee failed to contest. Rejecting appeal, ITAT cited Chekmate Services Pvt. Ltd. ruling that delayed PF & ESI contributions are not deductible u/s 36(1)(va) if deposited post due date. Highlights Income Tax Mon, 10 Jun 2024 07:46:28 +0530 https://www.taxtmi.com/highlights?id=78336