https://www.taxtmi.com/caselaws?id=463259 ITAT MUMBAI - AT held that the AO's suo-moto invocation of s.14A r.w. r.8D(2)(iii) without recording satisfaction was invalid and allowed the assessee's challenge; ESOP expenses were allowable. Regarding s.43D r.w.r.6EA, the Tribunal upheld the assessee's grounds, finding the CIT(A) wrong to substitute RBI-linked NPA norms and allowing the assessee's appeals. Disallowance of broken-period interest on government securities was rejected, consistent with prior rulings and CBDT guidance. Deductions under s.36(1)(viia) and s.36(1)(vii)/36(2) were allowed. Revenue's challenge to disallow interest on perpetual bonds was dismissed. en-us Thu, 08 Aug 2024 00:00:00 +0530 Mon, 18 Aug 2025 12:42:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463259 ITAT MUMBAI - AT held that the AO's suo-moto invocation of s.14A r.w. r.8D(2)(iii) without recording satisfaction was invalid and allowed the assessee's challenge; ESOP expenses were allowable. Regarding s.43D r.w.r.6EA, the Tribunal upheld the assessee's grounds, finding the CIT(A) wrong to substitute RBI-linked NPA norms and allowing the assessee's appeals. Disallowance of broken-period interest on government securities was rejected, consistent with prior rulings and CBDT guidance. Deductions under s.36(1)(viia) and s.36(1)(vii)/36(2) were allowed. Revenue's challenge to disallow interest on perpetual bonds was dismissed. Case-Laws Income Tax Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463259