https://www.taxtmi.com/caselaws?id=402702 The appeal was partly allowed. The Tribunal directed the AO to reconsider the disallowance of rental expenses based on fair market value, not BBMP valuation, under section 40A(2)(b). Additionally, the Tribunal restricted the disallowance under section 14A to the amount originally claimed by the assessee, deleting the additional disallowance made by the Revenue authorities. en-us Thu, 07 Jan 2021 00:00:00 +0530 Sat, 09 Jan 2021 22:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402702 The appeal was partly allowed. The Tribunal directed the AO to reconsider the disallowance of rental expenses based on fair market value, not BBMP valuation, under section 40A(2)(b). Additionally, the Tribunal restricted the disallowance under section 14A to the amount originally claimed by the assessee, deleting the additional disallowance made by the Revenue authorities. Case-Laws Income Tax Thu, 07 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402702