https://www.taxtmi.com/caselaws?id=420159 The ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance under section 14A read with Rule 8D for exempt dividend income, citing lack of satisfaction by the AO and positive netting of interest income and expenses. Additionally, the ITAT affirmed the CIT(A)'s direction to allow set-off of LTCL against LTCG for statistical purposes, emphasizing compliance with legal requirements. The Revenue's appeal was dismissed, highlighting the importance of proper treatment of losses and gains in accordance with the law. en-us Fri, 25 Mar 2022 00:00:00 +0530 Mon, 28 Mar 2022 08:24:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420159 The ITAT Mumbai upheld the CIT(A)'s decision to delete the disallowance under section 14A read with Rule 8D for exempt dividend income, citing lack of satisfaction by the AO and positive netting of interest income and expenses. Additionally, the ITAT affirmed the CIT(A)'s direction to allow set-off of LTCL against LTCG for statistical purposes, emphasizing compliance with legal requirements. The Revenue's appeal was dismissed, highlighting the importance of proper treatment of losses and gains in accordance with the law. Case-Laws Income Tax Fri, 25 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420159