https://www.taxtmi.com/caselaws?id=456948 Festival and gift expenses incurred for employees, supported by books and without specific voucher defects, were treated as business expenditure, so the disallowance was rightly deleted. Disallowance under section 14A read with rule 8D was not justified where own interest-free funds exceeded investments in exempt-income assets, and the relief was upheld. Transmission and wheeling charges were held not to be rent or fees for technical services, so no TDS default arose and section 40(a)(ia) could not apply. Delayed employees' EPF contribution remained disallowable under section 36(1)(va) read with section 2(24)(x), and the contrary deletion was reversed. en-us Tue, 18 Jul 2023 00:00:00 +0530 Wed, 28 Aug 2024 09:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456948 Festival and gift expenses incurred for employees, supported by books and without specific voucher defects, were treated as business expenditure, so the disallowance was rightly deleted. Disallowance under section 14A read with rule 8D was not justified where own interest-free funds exceeded investments in exempt-income assets, and the relief was upheld. Transmission and wheeling charges were held not to be rent or fees for technical services, so no TDS default arose and section 40(a)(ia) could not apply. Delayed employees' EPF contribution remained disallowable under section 36(1)(va) read with section 2(24)(x), and the contrary deletion was reversed. Case-Laws Income Tax Tue, 18 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456948