https://www.taxtmi.com/caselaws?id=759873 ITAT Mumbai remanded TDS reconciliation issue to CIT(A) for verification after assessee failed to reconcile ITS data with accounting records despite offering income of Rs. 127.10 crores exceeding Form 26AS by Rs. 52.04 crores. Tribunal dismissed Revenue's appeal on software license fee, treating it as revenue expenditure following consistent precedent from assessee's own case for AY 2008-09. Interest on bank FDs was classified as business income rather than income from other sources, citing Karnataka HC precedent. Section 14A disallowance was restricted to 0.5% of average investment after considering assessee's suo moto disallowance. en-us Mon, 16 Sep 2024 00:00:00 +0530 Wed, 09 Oct 2024 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759873 ITAT Mumbai remanded TDS reconciliation issue to CIT(A) for verification after assessee failed to reconcile ITS data with accounting records despite offering income of Rs. 127.10 crores exceeding Form 26AS by Rs. 52.04 crores. Tribunal dismissed Revenue's appeal on software license fee, treating it as revenue expenditure following consistent precedent from assessee's own case for AY 2008-09. Interest on bank FDs was classified as business income rather than income from other sources, citing Karnataka HC precedent. Section 14A disallowance was restricted to 0.5% of average investment after considering assessee's suo moto disallowance. Case-Laws Income Tax Mon, 16 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759873