Section 14A Disallowance Cannot Automatically Increase MAT Book Profits: ITAT Mumbai

ACG Associated Capsules Private Limited Vs DCIT (ITAT Mumbai) ITAT Allows 50:50 Split in Corporate Guarantee Commission Because Interest Savings Benefited Both Parties; Transfer Pricing Addition Reduced Because ITAT Applied Interest Saving Method with Shared Allocation; Book Profit Addition Set Aside Because MAT Computation Must Be Independent of Rule 8D; ITAT Directs Recalculation of Taxable Income Because Earlier Reliefs Were Not Properly Given Effect In, the Income Tax Appellate Tribunal (ITAT), Mumbai, disposed of three appeals filed by the assessee for Assessment Years (AYs) 2010-11, 2012...