https://www.taxtmi.com/caselaws?id=404403 The ITAT ruled in favor of the assessee, a government enterprise, by directing the AO to allow deductions under Section 80-IA and treat a Rs. 14.34 crore provision as an ascertained liability. The ITAT upheld the CIT(A)'s deletion of additions under Section 14A and disallowance of Rs. 4.07 crores in book profit computation. The decision underscores the importance of consistency in tax rulings and adherence to judicial precedents, dismissing the Revenue's appeal and instructing the AO to adjust computations accordingly. en-us Wed, 17 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404403 The ITAT ruled in favor of the assessee, a government enterprise, by directing the AO to allow deductions under Section 80-IA and treat a Rs. 14.34 crore provision as an ascertained liability. The ITAT upheld the CIT(A)'s deletion of additions under Section 14A and disallowance of Rs. 4.07 crores in book profit computation. The decision underscores the importance of consistency in tax rulings and adherence to judicial precedents, dismissing the Revenue's appeal and instructing the AO to adjust computations accordingly. Case-Laws Income Tax Wed, 17 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404403