https://www.taxtmi.com/caselaws?id=375990 The tribunal dismissed the appeal filed by the revenue, upholding the Commissioner of Income Tax (Appeals) decision to delete additions made on account of disallowance of expenses under section 14A read with Rule 8D and addition on account of capital gain for forfeited amount. The tribunal found that the Assessing Officer had mechanistically invoked section 14A without proper justification, and the forfeited amount was correctly treated as a capital receipt in accordance with relevant provisions. The tribunal concluded that there was no illegality or perversity in the CIT(A)'s order. en-us Tue, 26 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375990 The tribunal dismissed the appeal filed by the revenue, upholding the Commissioner of Income Tax (Appeals) decision to delete additions made on account of disallowance of expenses under section 14A read with Rule 8D and addition on account of capital gain for forfeited amount. The tribunal found that the Assessing Officer had mechanistically invoked section 14A without proper justification, and the forfeited amount was correctly treated as a capital receipt in accordance with relevant provisions. The tribunal concluded that there was no illegality or perversity in the CIT(A)'s order. Case-Laws Income Tax Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375990