https://www.taxtmi.com/caselaws?id=407848 The ITAT, Ahmedabad, allowed the appeal in favor of the government company assessee regarding disallowance under section 14A, restricting it to Rs. 58,07,020/- based on precedent. The ITAT remanded the case to the Assessing Officer for fresh examination on the addition of interest under section 244A, as the claim of non-receipt of interest was not verified. The appeal on the initiation of penalty proceedings under section 271(c) was dismissed as premature, with the overall appeal partly allowed for statistical purposes, providing relief on specific issues while maintaining the dismissal of penalty proceedings. en-us Tue, 04 May 2021 00:00:00 +0530 Mon, 24 May 2021 08:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407848 The ITAT, Ahmedabad, allowed the appeal in favor of the government company assessee regarding disallowance under section 14A, restricting it to Rs. 58,07,020/- based on precedent. The ITAT remanded the case to the Assessing Officer for fresh examination on the addition of interest under section 244A, as the claim of non-receipt of interest was not verified. The appeal on the initiation of penalty proceedings under section 271(c) was dismissed as premature, with the overall appeal partly allowed for statistical purposes, providing relief on specific issues while maintaining the dismissal of penalty proceedings. Case-Laws Income Tax Tue, 04 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407848