https://www.taxtmi.com/caselaws?id=462566 ITAT Kolkata dismissed revenue's appeal on multiple grounds. Regarding TP adjustment under section 80IA for thermal power plant, tribunal followed its own precedent favoring assessee. Mining compensation payments were held revenue expenditure as they arose from business operations causing land damage, not capital acquisition. Section 14A disallowance was upheld as AO recorded proper satisfaction before making addition. However, section 14A disallowance cannot be added to book profits under section 115JB, following Karnataka and Delhi HC precedents. TCS credit in Form 26AS was properly allowed by CIT(A) as settled law permits credit for taxes paid on assessee's behalf. en-us Tue, 24 Dec 2024 00:00:00 +0530 Tue, 01 Jul 2025 19:08:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462566 ITAT Kolkata dismissed revenue's appeal on multiple grounds. Regarding TP adjustment under section 80IA for thermal power plant, tribunal followed its own precedent favoring assessee. Mining compensation payments were held revenue expenditure as they arose from business operations causing land damage, not capital acquisition. Section 14A disallowance was upheld as AO recorded proper satisfaction before making addition. However, section 14A disallowance cannot be added to book profits under section 115JB, following Karnataka and Delhi HC precedents. TCS credit in Form 26AS was properly allowed by CIT(A) as settled law permits credit for taxes paid on assessee's behalf. Case-Laws Income Tax Tue, 24 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462566