https://www.taxtmi.com/caselaws?id=371337 The ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance of depreciation, as the appellant demonstrated possession and use of the property for business. The ITAT also allowed the Cross Objection, overturning the disallowance under section 14A, as investments were made from surplus funds, not for earning exempt income. en-us Mon, 24 Sep 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:04:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371337 The ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance of depreciation, as the appellant demonstrated possession and use of the property for business. The ITAT also allowed the Cross Objection, overturning the disallowance under section 14A, as investments were made from surplus funds, not for earning exempt income. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371337