https://www.taxtmi.com/caselaws?id=768043 ITAT Delhi upheld disallowance under section 14A for exempt dividend income where mixed funds were used for investments. The tribunal dismissed revenue's appeal on depreciation claimed at 100% on temporary structures, finding no basis for ad hoc 10% disallowance. Director's remuneration disallowance was deleted as AO accepted services rendered despite lack of documentary proof. Disallowance of 2% on shuttering purchases was deleted, recognizing consumables as inevitable for contract execution. Addition for notional interest on earnest money deposits was deleted following previous tribunal decisions. However, disallowances under section 69C for subcontract charges and job expenses were remanded back to AO for fresh examination with cross-examination opportunities. en-us Thu, 27 Mar 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768043 ITAT Delhi upheld disallowance under section 14A for exempt dividend income where mixed funds were used for investments. The tribunal dismissed revenue's appeal on depreciation claimed at 100% on temporary structures, finding no basis for ad hoc 10% disallowance. Director's remuneration disallowance was deleted as AO accepted services rendered despite lack of documentary proof. Disallowance of 2% on shuttering purchases was deleted, recognizing consumables as inevitable for contract execution. Addition for notional interest on earnest money deposits was deleted following previous tribunal decisions. However, disallowances under section 69C for subcontract charges and job expenses were remanded back to AO for fresh examination with cross-examination opportunities. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768043