https://www.taxtmi.com/caselaws?id=310699 ITAT Mumbai allowed multiple grounds in favor of the assessee. Section 14A disallowance was deleted as assessee had sufficient own funds for investments. CENVAT credit addition was deleted following Supreme Court precedent. Club subscription fees for directors were allowed as business expenditure. Sales tax incentives were treated as capital receipts. Section 80IA deduction was allowed for power units purchased from Tata Power. Various provisions including gratuity, leave encashment were excluded from MAT computation. Indexed cost benefit was granted for capital gains under Section 115JB. Debenture redemption reserve addition was deleted. Premium on FCCB redemption was allowed as deduction. en-us Tue, 28 Feb 2023 00:00:00 +0530 Tue, 07 Nov 2023 21:48:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310699 ITAT Mumbai allowed multiple grounds in favor of the assessee. Section 14A disallowance was deleted as assessee had sufficient own funds for investments. CENVAT credit addition was deleted following Supreme Court precedent. Club subscription fees for directors were allowed as business expenditure. Sales tax incentives were treated as capital receipts. Section 80IA deduction was allowed for power units purchased from Tata Power. Various provisions including gratuity, leave encashment were excluded from MAT computation. Indexed cost benefit was granted for capital gains under Section 115JB. Debenture redemption reserve addition was deleted. Premium on FCCB redemption was allowed as deduction. Case-Laws Income Tax Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310699