https://www.taxtmi.com/caselaws?id=751008 The ITAT Kolkata held that an assessment order passed under section 143(3) was non-est as it got abated due to search proceedings under section 153A. The revenue's appeal was dismissed as infructuous. For the assessee's appeal, the tribunal upheld CIT(A)'s direction for recomputing disallowance under section 14A read with Rule 8D, confirming it applies only to investments yielding dividend income. The tribunal allowed upward adjustment to book profit under section 115JB for the disallowance. However, transfer pricing adjustments were deleted as the AO lacked jurisdiction without TPO reference, and the underlying assessment was non-est. en-us Fri, 15 Mar 2024 00:00:00 +0530 Sat, 22 Jun 2024 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751008 The ITAT Kolkata held that an assessment order passed under section 143(3) was non-est as it got abated due to search proceedings under section 153A. The revenue's appeal was dismissed as infructuous. For the assessee's appeal, the tribunal upheld CIT(A)'s direction for recomputing disallowance under section 14A read with Rule 8D, confirming it applies only to investments yielding dividend income. The tribunal allowed upward adjustment to book profit under section 115JB for the disallowance. However, transfer pricing adjustments were deleted as the AO lacked jurisdiction without TPO reference, and the underlying assessment was non-est. Case-Laws Income Tax Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751008