https://www.taxtmi.com/caselaws?id=426191 The ITAT Mumbai dismissed the Revenue's appeal regarding Section 14A disallowance. The Tribunal held that amendments to Section 14A introduced by Finance Act 2022 apply prospectively from AY 2022-23 onwards, not retrospectively, following precedents from Mumbai ITAT and Delhi HC. Regarding MAT computation under Section 115JB, the Tribunal upheld CIT(A)'s decision favoring the assessee, relying on Special Bench precedent in Vireet Investments case and consistent tribunal decisions for the assessee in previous years. Both grounds raised by Revenue were dismissed. en-us Wed, 03 Aug 2022 00:00:00 +0530 Wed, 11 Jun 2025 16:00:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426191 The ITAT Mumbai dismissed the Revenue's appeal regarding Section 14A disallowance. The Tribunal held that amendments to Section 14A introduced by Finance Act 2022 apply prospectively from AY 2022-23 onwards, not retrospectively, following precedents from Mumbai ITAT and Delhi HC. Regarding MAT computation under Section 115JB, the Tribunal upheld CIT(A)'s decision favoring the assessee, relying on Special Bench precedent in Vireet Investments case and consistent tribunal decisions for the assessee in previous years. Both grounds raised by Revenue were dismissed. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426191