https://www.taxtmi.com/caselaws?id=774889 ITAT Mumbai allowed the appeal for statistical purposes regarding disallowance under section 14A read with Rule 8D. The tribunal held that AO's non-acceptance of assessee's suo-moto disallowance calculation reflected dissatisfaction without requiring specific satisfaction recording. Following Vireet Investment precedent, only investments yielding exempt income should be considered for average value calculation. The tribunal also allowed employee cost provision for wage revision as legitimate business expenditure, citing Housing & Urban Development Corporation precedent. AO was directed to verify and correct book profit computation discrepancies between assessment order and computation sheet. en-us Mon, 30 Jun 2025 00:00:00 +0530 Wed, 16 Jul 2025 08:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774889 ITAT Mumbai allowed the appeal for statistical purposes regarding disallowance under section 14A read with Rule 8D. The tribunal held that AO's non-acceptance of assessee's suo-moto disallowance calculation reflected dissatisfaction without requiring specific satisfaction recording. Following Vireet Investment precedent, only investments yielding exempt income should be considered for average value calculation. The tribunal also allowed employee cost provision for wage revision as legitimate business expenditure, citing Housing & Urban Development Corporation precedent. AO was directed to verify and correct book profit computation discrepancies between assessment order and computation sheet. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774889