https://www.taxtmi.com/caselaws?id=465013 ITAT Ahmedabad dismissed Revenue's challenge to deduction u/s 80IA, holding that the assessee, as amalgamated company, is entitled to continue statutory tax benefits of the power generation undertaking acquired from the amalgamating company, following earlier years' rulings. On disallowance u/s 14A r/w Rule 8D, the Tribunal held that the assessee's claim of exempt dividend income without any expenditure was not justified, and remanded the matter to the AO for fresh verification and recomputation in line with applicable judicial precedents. On computation of book profit u/s 115JB, ITAT upheld the CIT(A)'s view that no adjustment on account of disallowance u/s 14A is permissible, and rejected Revenue's ground. en-us Fri, 15 Jul 2022 00:00:00 +0530 Mon, 01 Dec 2025 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465013 ITAT Ahmedabad dismissed Revenue's challenge to deduction u/s 80IA, holding that the assessee, as amalgamated company, is entitled to continue statutory tax benefits of the power generation undertaking acquired from the amalgamating company, following earlier years' rulings. On disallowance u/s 14A r/w Rule 8D, the Tribunal held that the assessee's claim of exempt dividend income without any expenditure was not justified, and remanded the matter to the AO for fresh verification and recomputation in line with applicable judicial precedents. On computation of book profit u/s 115JB, ITAT upheld the CIT(A)'s view that no adjustment on account of disallowance u/s 14A is permissible, and rejected Revenue's ground. Case-Laws Income Tax Fri, 15 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465013