https://www.taxtmi.com/caselaws?id=782611 ITAT Mumbai dismissed Revenue's challenge to deduction claims u/s 80IC/80IB, holding the AO could not deny deduction when relief in the initial year remained unwithdrawn and interest-free funds sufficiently financed eligible units, rendering allocation of interest/finance costs unwarranted. Disallowance u/s 14A r.w.r. 8D was partly allowed, directing the AO to recompute by considering only investments yielding actual exempt income. On sale of immovable property, the issue was remanded to the AO with a direction to seek DVO valuation in light of the assessee's distress-sale plea. Disallowance of delayed employees' PF contribution was upheld in line with binding SC precedent. Issues of TDS credit and set-off of MAT credit were remanded for verification and consequential relief. en-us Wed, 06 Aug 2025 00:00:00 +0530 Tue, 02 Dec 2025 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782611 ITAT Mumbai dismissed Revenue's challenge to deduction claims u/s 80IC/80IB, holding the AO could not deny deduction when relief in the initial year remained unwithdrawn and interest-free funds sufficiently financed eligible units, rendering allocation of interest/finance costs unwarranted. Disallowance u/s 14A r.w.r. 8D was partly allowed, directing the AO to recompute by considering only investments yielding actual exempt income. On sale of immovable property, the issue was remanded to the AO with a direction to seek DVO valuation in light of the assessee's distress-sale plea. Disallowance of delayed employees' PF contribution was upheld in line with binding SC precedent. Issues of TDS credit and set-off of MAT credit were remanded for verification and consequential relief. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782611