ITAT Remands Support Service Fee Disallowance as CIT(A) Ignored Documentary Evidence

Religare Finvest Ltd. Vs DCIT (ITAT Delhi) The appeals before the Income Tax Appellate Tribunal involved cross appeals by the assessee and the Revenue for Assessment Years 2012-13, 2013-14, 2014-15, and 2015-16, raising issues relating to disallowance under Section 14A, depreciation on finance lease assets, support service fees and reimbursement expenses, bad debts written off, and interest on Compulsorily Convertible Debentures (CCDs). On the issue of disallowance under Section 14A, the Tribunal noted that the investments in Karnataka Bank shares had been made out of the assessee’s own fund...