https://www.taxtmi.com/caselaws?id=767657 ITAT Mumbai partially allowed the assessee's appeal against PCIT's revision order under section 263. The tribunal upheld disallowance of excess deduction under section 35CCC, restricting it to INR 8,03,76,735 instead of INR 10,68,11,066 as directed by PCIT. However, ITAT rejected PCIT's findings on section 14A disallowance and depreciation on land value, holding that the AO had properly examined these issues during assessment proceedings with adequate application of mind, making the revision order erroneous on these aspects. en-us Thu, 20 Mar 2025 00:00:00 +0530 Sat, 22 Mar 2025 08:33:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767657 ITAT Mumbai partially allowed the assessee's appeal against PCIT's revision order under section 263. The tribunal upheld disallowance of excess deduction under section 35CCC, restricting it to INR 8,03,76,735 instead of INR 10,68,11,066 as directed by PCIT. However, ITAT rejected PCIT's findings on section 14A disallowance and depreciation on land value, holding that the AO had properly examined these issues during assessment proceedings with adequate application of mind, making the revision order erroneous on these aspects. Case-Laws Income Tax Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767657