https://www.taxtmi.com/caselaws?id=359669 The Tribunal partially allowed the appeal, ruling in favor of the appellant regarding the disallowance under section 14A of the Income Tax Act. The disallowance of &8377; 28,38,430/- was deleted as the appellant's own funds exceeded the investments. However, a disallowance of &8377; 1,987/- under Rule 8D(2)(i) was confirmed. Additionally, the ad-hoc disallowance of &8377; 3,00,000/- for cash expenses was overturned by the Tribunal due to lack of concrete evidence supporting the AO's decision. The judgment was issued by the Appellate Tribunal ITAT Mumbai on 18/04/2018. en-us Wed, 18 Apr 2018 00:00:00 +0530 Thu, 03 May 2018 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359669 The Tribunal partially allowed the appeal, ruling in favor of the appellant regarding the disallowance under section 14A of the Income Tax Act. The disallowance of &8377; 28,38,430/- was deleted as the appellant's own funds exceeded the investments. However, a disallowance of &8377; 1,987/- under Rule 8D(2)(i) was confirmed. Additionally, the ad-hoc disallowance of &8377; 3,00,000/- for cash expenses was overturned by the Tribunal due to lack of concrete evidence supporting the AO's decision. The judgment was issued by the Appellate Tribunal ITAT Mumbai on 18/04/2018. Case-Laws Income Tax Wed, 18 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359669