https://www.taxtmi.com/caselaws?id=239388 The Tribunal partially allowed the assessee's appeals in ITA Nos. 4885/Mum/2011 and 2991/Mum/2012. The disallowance of interest under Section 36(1)(iii) was restricted to Rs. 26 lakhs, and the disallowance under Section 14A was upheld at 5% of dividend income for AY 2007-08. The treatment of shares received in demutualization was denied as capital gains. The issue of disallowance under Section 40(a)(ia) was remanded for fresh examination. The addition of deemed dividend under Section 2(22)(e) was deleted as the recipient concern was not the registered shareholder. Revenue appeals in ITA Nos. 4658/Mum/2011 and 2345/Mum/2012 were dismissed. en-us Fri, 10 May 2013 00:00:00 +0530 Wed, 13 Nov 2013 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239388 The Tribunal partially allowed the assessee's appeals in ITA Nos. 4885/Mum/2011 and 2991/Mum/2012. The disallowance of interest under Section 36(1)(iii) was restricted to Rs. 26 lakhs, and the disallowance under Section 14A was upheld at 5% of dividend income for AY 2007-08. The treatment of shares received in demutualization was denied as capital gains. The issue of disallowance under Section 40(a)(ia) was remanded for fresh examination. The addition of deemed dividend under Section 2(22)(e) was deleted as the recipient concern was not the registered shareholder. Revenue appeals in ITA Nos. 4658/Mum/2011 and 2345/Mum/2012 were dismissed. Case-Laws Income Tax Fri, 10 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239388