https://www.taxtmi.com/caselaws?id=459171 ITAT Mumbai upheld CIT(A)'s decision allowing assessee's claim regarding disallowance under section 14A read with rule 8D. The tribunal relied on consistent favorable decisions in assessee's own case for assessment years 2008-09 through 2012-13. Additionally, ITAT confirmed that provisions under section 14A read with rule 8D are not applicable while computing book profit under section 115JB, following the precedent in ACIT vs. Vireet Investment P. Ltd. The revenue failed to produce contrary legal authority, and the tribunal found no grounds to interfere with CIT(A)'s judicious decision. en-us Mon, 06 Jul 2020 00:00:00 +0530 Tue, 03 Dec 2024 19:05:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459171 ITAT Mumbai upheld CIT(A)'s decision allowing assessee's claim regarding disallowance under section 14A read with rule 8D. The tribunal relied on consistent favorable decisions in assessee's own case for assessment years 2008-09 through 2012-13. Additionally, ITAT confirmed that provisions under section 14A read with rule 8D are not applicable while computing book profit under section 115JB, following the precedent in ACIT vs. Vireet Investment P. Ltd. The revenue failed to produce contrary legal authority, and the tribunal found no grounds to interfere with CIT(A)'s judicious decision. Case-Laws Income Tax Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459171