https://www.taxtmi.com/caselaws?id=777387 ITAT MUMBAI - AT held that a suo moto disallowance made by the assessee under s.14A r.w. r.8D is sufficient and the AO's appeal on this ground is dismissed; the assessee's appeal on the point is allowed, noting the AO must ordinarily record satisfaction before additions. On alleged bogus share capital gains, the Tribunal found investigations/SEBI reports implicated promoters/directors, not the assessee; transactions were online, dematerialized and routed through banks, so AO's presumptions lacked evidentiary value. Consequently the gains are treated as short-term/long-term capital gains, revenue's appeal dismissed and assessee's appeal allowed. en-us Thu, 09 Jan 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777387 ITAT MUMBAI - AT held that a suo moto disallowance made by the assessee under s.14A r.w. r.8D is sufficient and the AO's appeal on this ground is dismissed; the assessee's appeal on the point is allowed, noting the AO must ordinarily record satisfaction before additions. On alleged bogus share capital gains, the Tribunal found investigations/SEBI reports implicated promoters/directors, not the assessee; transactions were online, dematerialized and routed through banks, so AO's presumptions lacked evidentiary value. Consequently the gains are treated as short-term/long-term capital gains, revenue's appeal dismissed and assessee's appeal allowed. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777387