https://www.taxtmi.com/caselaws?id=311485 The ITAT Mumbai remanded the Section 14A disallowance issue to the AO for fresh adjudication following previous tribunal directions and considering additional submissions. The tribunal upheld disallowance of amortization of lease premium on leasehold land, following consistent precedent from assessee's own case. The foreign branch income taxation issue was restored to AO for de novo consideration after the assessee raised new submissions not previously made before departmental authorities. The broken period interest disallowance was remanded following jurisdictional HC precedent in State Bank of India case. MAT provisions under Section 115JB were held inapplicable to banking companies for the relevant assessment year. en-us Fri, 30 Nov 2018 00:00:00 +0530 Thu, 28 Dec 2023 20:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311485 The ITAT Mumbai remanded the Section 14A disallowance issue to the AO for fresh adjudication following previous tribunal directions and considering additional submissions. The tribunal upheld disallowance of amortization of lease premium on leasehold land, following consistent precedent from assessee's own case. The foreign branch income taxation issue was restored to AO for de novo consideration after the assessee raised new submissions not previously made before departmental authorities. The broken period interest disallowance was remanded following jurisdictional HC precedent in State Bank of India case. MAT provisions under Section 115JB were held inapplicable to banking companies for the relevant assessment year. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311485