https://www.taxtmi.com/caselaws?id=469157 ITAT Mumbai applied the principle that disallowance under section 40A(2)(a) requires material showing excessiveness or unreasonableness, and deleted additions for rent, management fees and commission where no comparable evidence was produced. It also deleted section 68 additions for an unsecured loan and public deposits because identity, genuineness and creditworthiness were established through confirmations, PAN, books and supporting records. For section 80IB, it treated scrap sale, exchange gain, sundry balances written back and miscellaneous income as business receipts of the eligible undertaking, and rejected the Assessing Officer's allocation adjustments to interest, bank charges, inter-unit transfers and processing charges. The Revenue's section 14A appeal was not maintainable due to low tax effect. en-us Tue, 10 May 2022 00:00:00 +0530 Fri, 05 Jun 2026 10:47:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469157 ITAT Mumbai applied the principle that disallowance under section 40A(2)(a) requires material showing excessiveness or unreasonableness, and deleted additions for rent, management fees and commission where no comparable evidence was produced. It also deleted section 68 additions for an unsecured loan and public deposits because identity, genuineness and creditworthiness were established through confirmations, PAN, books and supporting records. For section 80IB, it treated scrap sale, exchange gain, sundry balances written back and miscellaneous income as business receipts of the eligible undertaking, and rejected the Assessing Officer's allocation adjustments to interest, bank charges, inter-unit transfers and processing charges. The Revenue's section 14A appeal was not maintainable due to low tax effect. Case-Laws Income Tax Tue, 10 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469157