https://www.taxtmi.com/caselaws?id=795199 Section 14A read with Rule 8D requires the Assessing Officer to examine the accounts and record dissatisfaction with the taxpayer's own disallowance before applying the prescribed method; the additional disallowances were therefore deleted. Project provisions labelled as expected losses are not allowable merely on prudence where they represent anticipatory future costs, but completion costs matching revenue already recognised may be deductible under accrual and matching principles, subject to project-wise verification. The claim was remanded for fresh determination. Deemed dividend under section 2(22)(e) requires the borrower to be the lender's registered and beneficial shareholder; loans to a non-shareholder borrower could not be taxed as deemed dividend and the addition was deleted. en-us Tue, 14 Jul 2026 00:00:00 +0530 Sat, 18 Jul 2026 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795199 Section 14A read with Rule 8D requires the Assessing Officer to examine the accounts and record dissatisfaction with the taxpayer's own disallowance before applying the prescribed method; the additional disallowances were therefore deleted. Project provisions labelled as expected losses are not allowable merely on prudence where they represent anticipatory future costs, but completion costs matching revenue already recognised may be deductible under accrual and matching principles, subject to project-wise verification. The claim was remanded for fresh determination. Deemed dividend under section 2(22)(e) requires the borrower to be the lender's registered and beneficial shareholder; loans to a non-shareholder borrower could not be taxed as deemed dividend and the addition was deleted. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795199