https://www.taxtmi.com/caselaws?id=456370 ITAT Mumbai allowed assessee's appeal for statistical purposes regarding disallowance u/s 14A r.w.r. 8D, directing AO to re-examine availability of interest-free funds at time of investment rather than subsequently. The tribunal deleted addition for disallowance u/s 14A while computing book profit u/s 115JB, following Vireet Investment precedent. Employee stock option expenses were held allowable following Biocon HC decision and Radhasoami SC precedent. Additional ESOP claim was admitted following Pruthvi Brokers precedent and remanded to AO. Excess dividend distribution tax refund claim was dismissed following Total Oil India decision. Interest u/s 234C was remanded for verification. en-us Wed, 31 May 2023 00:00:00 +0530 Sun, 21 Jul 2024 16:25:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456370 ITAT Mumbai allowed assessee's appeal for statistical purposes regarding disallowance u/s 14A r.w.r. 8D, directing AO to re-examine availability of interest-free funds at time of investment rather than subsequently. The tribunal deleted addition for disallowance u/s 14A while computing book profit u/s 115JB, following Vireet Investment precedent. Employee stock option expenses were held allowable following Biocon HC decision and Radhasoami SC precedent. Additional ESOP claim was admitted following Pruthvi Brokers precedent and remanded to AO. Excess dividend distribution tax refund claim was dismissed following Total Oil India decision. Interest u/s 234C was remanded for verification. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456370