https://www.taxtmi.com/caselaws?id=767072 ITAT Mumbai dismissed revenue's appeal on multiple grounds. Regarding Section 14A disallowance, tribunal held disallowance cannot exceed exempt income earned and no disallowance permitted under Section 115JB as provisions don't reference Section 14A. For Section 69A addition based on alleged cash compensation, tribunal upheld deletion noting AO failed to conduct independent inquiry with other parties and relied on insufficient email evidence. Concerning Section 80IA deduction for units acquired through slump sale, tribunal confirmed deduction is available to undertaking regardless of ownership change, as revenue provided no material to contradict appellate authority's factual findings. All grounds dismissed. en-us Fri, 07 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767072 ITAT Mumbai dismissed revenue's appeal on multiple grounds. Regarding Section 14A disallowance, tribunal held disallowance cannot exceed exempt income earned and no disallowance permitted under Section 115JB as provisions don't reference Section 14A. For Section 69A addition based on alleged cash compensation, tribunal upheld deletion noting AO failed to conduct independent inquiry with other parties and relied on insufficient email evidence. Concerning Section 80IA deduction for units acquired through slump sale, tribunal confirmed deduction is available to undertaking regardless of ownership change, as revenue provided no material to contradict appellate authority's factual findings. All grounds dismissed. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767072