https://www.taxtmi.com/caselaws?id=280207 The Appellate Tribunal ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance of expenses relatable to exempt income under section 14A read with Rule 8D, as there was no exempt income received during the relevant year. Additionally, the Tribunal affirmed the CIT(A)'s ruling in allowing the claim of unabsorbed depreciation carried forward and adjusted against income after 8 years, based on legal precedents clarifying the treatment of unabsorbed depreciation. Consequently, the Revenue's appeal was dismissed by the Tribunal. en-us Thu, 20 Dec 2018 00:00:00 +0530 Thu, 25 Apr 2019 06:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280207 The Appellate Tribunal ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance of expenses relatable to exempt income under section 14A read with Rule 8D, as there was no exempt income received during the relevant year. Additionally, the Tribunal affirmed the CIT(A)'s ruling in allowing the claim of unabsorbed depreciation carried forward and adjusted against income after 8 years, based on legal precedents clarifying the treatment of unabsorbed depreciation. Consequently, the Revenue's appeal was dismissed by the Tribunal. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280207