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ITAT ruled in favor of assessee on interest on share application money & PF/ESIC contributions. Disallowance u/s 14A not applicable. TDS credit to be allowed.

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....The Appellate Tribunal held that re-characterizing share application money as a loan to charge interest is not justified. Disallowance of employees' PF and ESIC contribution under u/s. 36(1)(va) was remanded to AO for verification. No disallowance u/s. 14A when no exempt income earned. Disallowance under Rule 8D not applicable for book profit u/s. 115JB. Short credit of TDS to be verified by AO. Interest u/s. 234B and 234C to be re-examined. Various grounds allowed for statistical purposes.....

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ITAT ruled in favor of assessee on interest on share application money & PF/ESIC contributions. Disallowance u/s 14A not applicable. TDS credit to be allowed.