ITAT Mumbai held that disallowance under section 14A of the Income Tax Act upheld since assessee failed to compute suo moto disallowance which is mandatory, even if no exempt income is earned. Thus, ...

An order u/s 263 was passed by CIT on grounds that exemption u/s 54F was not admissible as assessee owned more than one residential property as on the date of transfer & in the said order it was also ...