https://www.taxtmi.com/caselaws?id=775360 The ITAT Mumbai held that the addition under section 14A made by the assessee on a suo motu basis, amounting to 0.5% of the average value of investments yielding dividend income, was justified. The revenue's reliance on the retrospective applicability of the Finance Act, 2022 amendment to section 14A was rejected, following the Delhi HC ruling in PCIT v. ERA Infrastructure that the amendment is prospective only. The tribunal upheld the CIT(A)'s acceptance of the assessee's computation and restricted the disallowance accordingly. The decision was against the revenue. en-us Mon, 21 Jul 2025 00:00:00 +0530 Thu, 24 Jul 2025 08:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775360 The ITAT Mumbai held that the addition under section 14A made by the assessee on a suo motu basis, amounting to 0.5% of the average value of investments yielding dividend income, was justified. The revenue's reliance on the retrospective applicability of the Finance Act, 2022 amendment to section 14A was rejected, following the Delhi HC ruling in PCIT v. ERA Infrastructure that the amendment is prospective only. The tribunal upheld the CIT(A)'s acceptance of the assessee's computation and restricted the disallowance accordingly. The decision was against the revenue. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775360