https://www.taxtmi.com/caselaws?id=449241 ITAT Mumbai held that once specified domestic transaction (SDT) provisions were omitted from statute by Finance Act 2017, no transfer pricing adjustments could be made under SDT even for AY 2016-17, allowing grounds 2-15. For section 14A disallowance, tribunal accepted assessee's suo-moto disallowance methodology considering only exempt income-yielding investments, deleting excess disallowance by AO. Section 14A disallowance in book profit under section 115JB was deleted following established precedents. Depreciation at 60% on computer equipment and software was upheld. en-us Wed, 31 Jan 2024 00:00:00 +0530 Thu, 08 Feb 2024 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449241 ITAT Mumbai held that once specified domestic transaction (SDT) provisions were omitted from statute by Finance Act 2017, no transfer pricing adjustments could be made under SDT even for AY 2016-17, allowing grounds 2-15. For section 14A disallowance, tribunal accepted assessee's suo-moto disallowance methodology considering only exempt income-yielding investments, deleting excess disallowance by AO. Section 14A disallowance in book profit under section 115JB was deleted following established precedents. Depreciation at 60% on computer equipment and software was upheld. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449241