Case Law Details
Case Name : DCIT Vs Paranjapee Schemes Construction Ltd (ITAT Mumbai)
Appeal Number : ITA No. 4090/Mum/2023
Date of Judgement/Order : 31/05/2024
Related Assessment Year : 2020-21
Courts :
All ITAT ITAT Mumbai
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DCIT Vs Paranjapee Schemes Construction Ltd (ITAT Mumbai)
The recent decision by the Income Tax Appellate Tribunal (ITAT) Mumbai in the case of DCIT vs. Paranjapee Schemes Construction Ltd. sheds light on the applicability of Section 14A of the Income Tax Act concerning disallowances for investments not yielding tax-free income. The appeal was filed by the revenue against the order of the Commissioner of Income-tax (Appeals), Mumbai/National Faceless Appeal Centre, Delhi, for the Assessment Year 2020-21.
Detailed Analysis:
The case primarily revolves around two key grounds of appeal raised by the revenue:
1. Disallowance under section 14A r.w.rule 8D.
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