https://www.taxtmi.com/caselaws?id=469088 Revenue-share payments to local cable operators were not disallowed merely because the operators' income-tax returns were not produced; the assessee had filed party-wise details, ledgers and banking trail, so the matter was remitted for fresh verification. An addition under section 41(1) for alleged cessation of liability in respect of sundry creditors was deleted because cessation or remission could not be inferred only from absence of confirmations, and the creditor-wise records showed outstanding balances and later adjustments. For section 14A read with Rule 8D(2)(iii), only investments yielding exempt income during the year are to be included in the average investment base, so the disallowance was set aside for recomputation. en-us Mon, 18 Jul 2022 00:00:00 +0530 Tue, 02 Jun 2026 10:14:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469088 Revenue-share payments to local cable operators were not disallowed merely because the operators' income-tax returns were not produced; the assessee had filed party-wise details, ledgers and banking trail, so the matter was remitted for fresh verification. An addition under section 41(1) for alleged cessation of liability in respect of sundry creditors was deleted because cessation or remission could not be inferred only from absence of confirmations, and the creditor-wise records showed outstanding balances and later adjustments. For section 14A read with Rule 8D(2)(iii), only investments yielding exempt income during the year are to be included in the average investment base, so the disallowance was set aside for recomputation. Case-Laws Income Tax Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469088