https://www.taxtmi.com/caselaws?id=207720 ITAT Mumbai ruled in favor of the assessee on multiple issues. The tribunal deleted Rs.47,37,000 addition for non-reconciliation of professional fees with TDS certificates, noting revenue failed to prove assessee received more than declared income. The tribunal also deleted Rs.75 lacs addition for unexplained mutual fund investment where assessee was second holder, directing AO to pursue first holder instead. However, ITAT upheld Rs.50,000 disallowance under Section 14A for expenses related to Rs.6.39 crores dividend income, finding it reasonable. en-us Wed, 08 Dec 2010 00:00:00 +0530 Thu, 05 Jun 2025 15:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207720 ITAT Mumbai ruled in favor of the assessee on multiple issues. The tribunal deleted Rs.47,37,000 addition for non-reconciliation of professional fees with TDS certificates, noting revenue failed to prove assessee received more than declared income. The tribunal also deleted Rs.75 lacs addition for unexplained mutual fund investment where assessee was second holder, directing AO to pursue first holder instead. However, ITAT upheld Rs.50,000 disallowance under Section 14A for expenses related to Rs.6.39 crores dividend income, finding it reasonable. Case-Laws Income Tax Wed, 08 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207720