https://www.taxtmi.com/caselaws?id=256576 The Appellate Tribunal in Mumbai ruled in favor of the Assessee in a case concerning the validity of reassessment proceedings under section 147 and disallowance under section 14A of the Income-Tax Act, 1961. The Tribunal held that the reassessment was based on a change of opinion without tangible material, rendering it bad in law and reversing the CIT(A) order. Additionally, the Tribunal found the disallowance under section 14A to be excessive and reduced the amount of disallowance after considering the Assessee's arguments and relevant precedents. en-us Wed, 20 Aug 2014 00:00:00 +0530 Tue, 17 Feb 2015 08:41:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256576 The Appellate Tribunal in Mumbai ruled in favor of the Assessee in a case concerning the validity of reassessment proceedings under section 147 and disallowance under section 14A of the Income-Tax Act, 1961. The Tribunal held that the reassessment was based on a change of opinion without tangible material, rendering it bad in law and reversing the CIT(A) order. Additionally, the Tribunal found the disallowance under section 14A to be excessive and reduced the amount of disallowance after considering the Assessee's arguments and relevant precedents. Case-Laws Income Tax Wed, 20 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256576