https://www.taxtmi.com/caselaws?id=248829 The ITAT Mumbai upheld the CIT(A)'s decisions on both issues, resulting in the dismissal of the revenue's appeal. The first issue involved the applicability of Rule 8D for disallowance under section 14A, with the CIT(A) limiting the disallowance amount based on a Bombay High Court ruling. The second issue concerned the addition under section 41(1) of the Income Tax Act, where the CIT(A) deleted the addition as the liability had been offered for taxation in the subsequent year, avoiding double taxation. The ITAT supported the CIT(A)'s reasoning in both instances. en-us Wed, 04 Jun 2014 00:00:00 +0530 Thu, 26 Jun 2014 10:19:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248829 The ITAT Mumbai upheld the CIT(A)'s decisions on both issues, resulting in the dismissal of the revenue's appeal. The first issue involved the applicability of Rule 8D for disallowance under section 14A, with the CIT(A) limiting the disallowance amount based on a Bombay High Court ruling. The second issue concerned the addition under section 41(1) of the Income Tax Act, where the CIT(A) deleted the addition as the liability had been offered for taxation in the subsequent year, avoiding double taxation. The ITAT supported the CIT(A)'s reasoning in both instances. Case-Laws Income Tax Wed, 04 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248829