https://www.taxtmi.com/caselaws?id=782719 ITAT Ahmedabad dismissed Revenue's appeal and partly allowed assessee's appeal for statistical purposes. On s.80-IA, the Tribunal, following its decisions in earlier years in assessee's own case, held that the power undertaking acquired on amalgamation qualifies for deduction, as the tax benefits available to the amalgamating company extend to the amalgamated entity; disallowance under Explanation 2 to s.80-IA(3) was therefore rejected. On s.14A r.w. Rule 8D, the Tribunal upheld CIT(A)'s restriction of disallowance to the actual exempt dividend income. On the Technology Upgradation Fund Scheme interest subsidy, the matter was remanded to the AO to re-examine its taxability as capital receipt after granting adequate opportunity of hearing. en-us Wed, 30 Jul 2025 00:00:00 +0530 Thu, 27 Nov 2025 16:27:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782719 ITAT Ahmedabad dismissed Revenue's appeal and partly allowed assessee's appeal for statistical purposes. On s.80-IA, the Tribunal, following its decisions in earlier years in assessee's own case, held that the power undertaking acquired on amalgamation qualifies for deduction, as the tax benefits available to the amalgamating company extend to the amalgamated entity; disallowance under Explanation 2 to s.80-IA(3) was therefore rejected. On s.14A r.w. Rule 8D, the Tribunal upheld CIT(A)'s restriction of disallowance to the actual exempt dividend income. On the Technology Upgradation Fund Scheme interest subsidy, the matter was remanded to the AO to re-examine its taxability as capital receipt after granting adequate opportunity of hearing. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782719