https://www.taxtmi.com/caselaws?id=447075 ITAT Mumbai dismissed revenue's appeal regarding unexplained investment addition u/s 69B, finding no proof of additional consideration payment for share purchase due to defective documentation and ongoing HC litigation concerning escrow agreement. The tribunal deleted disallowance u/s 14A following Delhi HC precedent that disallowance cannot exceed dividend income when assessee already made disallowance equal to exempted income. ITAT allowed assessee's appeal directing AO to consider revised income computation per amalgamation order approved by Bombay HC, following SC precedent in Dalmiya Power Ltd. en-us Mon, 09 Oct 2023 00:00:00 +0530 Sat, 16 Dec 2023 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447075 ITAT Mumbai dismissed revenue's appeal regarding unexplained investment addition u/s 69B, finding no proof of additional consideration payment for share purchase due to defective documentation and ongoing HC litigation concerning escrow agreement. The tribunal deleted disallowance u/s 14A following Delhi HC precedent that disallowance cannot exceed dividend income when assessee already made disallowance equal to exempted income. ITAT allowed assessee's appeal directing AO to consider revised income computation per amalgamation order approved by Bombay HC, following SC precedent in Dalmiya Power Ltd. Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447075