https://www.taxtmi.com/caselaws?id=765492 The ITAT Delhi partly allowed the appellant's appeal on three issues. Regarding disallowance under section 14A read with rule 8D, the tribunal restricted the addition to Rs. 5,631 based on precedents limiting disallowance to exempt income earned. For TDS under section 194A and disallowance under section 40(a)(ia), the matter was remanded to the AO for verification of prescribed certificates and recipient disclosure compliance. The unexplained cash credit under section 68 involving bogus share capital was confirmed as the appellant failed to establish identity, genuineness, and creditworthiness of the investor company. en-us Wed, 29 Jan 2025 00:00:00 +0530 Sat, 01 Feb 2025 08:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765492 The ITAT Delhi partly allowed the appellant's appeal on three issues. Regarding disallowance under section 14A read with rule 8D, the tribunal restricted the addition to Rs. 5,631 based on precedents limiting disallowance to exempt income earned. For TDS under section 194A and disallowance under section 40(a)(ia), the matter was remanded to the AO for verification of prescribed certificates and recipient disclosure compliance. The unexplained cash credit under section 68 involving bogus share capital was confirmed as the appellant failed to establish identity, genuineness, and creditworthiness of the investor company. Case-Laws Income Tax Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765492