https://www.taxtmi.com/caselaws?id=463481 ITAT Mumbai - AT deleted the s.14A r.w. R.8D disallowance because the assessee earned no exempt (dividend) income; noting the Finance Act, 2022 amendment to s.14A, the tribunal followed a HC view that the amendment is prospective and thus inapplicable to the year under appeal, allowing the assessee's ground on that issue. Conversely, the tribunal upheld disallowance under s.36(1)(va) for delayed payment of employees' PF and ESI contributions, applying SC precedent that post-due-date deposits are not deductible, and allowed the revenue's ground. en-us Tue, 12 Nov 2024 00:00:00 +0530 Wed, 03 Sep 2025 19:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463481 ITAT Mumbai - AT deleted the s.14A r.w. R.8D disallowance because the assessee earned no exempt (dividend) income; noting the Finance Act, 2022 amendment to s.14A, the tribunal followed a HC view that the amendment is prospective and thus inapplicable to the year under appeal, allowing the assessee's ground on that issue. Conversely, the tribunal upheld disallowance under s.36(1)(va) for delayed payment of employees' PF and ESI contributions, applying SC precedent that post-due-date deposits are not deductible, and allowed the revenue's ground. Case-Laws Income Tax Tue, 12 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463481