https://www.taxtmi.com/caselaws?id=767985 ITAT Mumbai allowed the appeal, directing deletion of additions on dividend and interest income estimated by AO and CIT(A) through comparison with group entities. The tribunal held that dividend cannot be assessed as income when shares were not registered in assessee's name and were in Special Court custody as part of notified Harshad Mehta group assets. Additions for unexplained share investments were deleted after considering bonus shares. Interest income additions were removed as revenue failed to provide evidence while documents remained with authorities. Various expense disallowances including interest on debentures, share trading losses, and business expenses were deleted, with the tribunal finding the basis for disallowance faulty due to debenture conversions into dividend-paying shares. en-us Mon, 17 Mar 2025 00:00:00 +0530 Fri, 28 Mar 2025 08:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767985 ITAT Mumbai allowed the appeal, directing deletion of additions on dividend and interest income estimated by AO and CIT(A) through comparison with group entities. The tribunal held that dividend cannot be assessed as income when shares were not registered in assessee's name and were in Special Court custody as part of notified Harshad Mehta group assets. Additions for unexplained share investments were deleted after considering bonus shares. Interest income additions were removed as revenue failed to provide evidence while documents remained with authorities. Various expense disallowances including interest on debentures, share trading losses, and business expenses were deleted, with the tribunal finding the basis for disallowance faulty due to debenture conversions into dividend-paying shares. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767985