https://www.taxtmi.com/caselaws?id=215872 The Tribunal upheld the disallowance of amounts transferred to Statutory Reserve and Reserve Fund, stating they are appropriations of profits and not deductible expenses. However, the Tribunal allowed the appeals related to disallowance under Section 14A with Rule 8D, emphasizing the need for the Assessing Officer to justify dissatisfaction before making additional disallowances. As a result, the Tribunal provided partial relief by deleting the disallowances under Section 14A for computing income under both regular provisions and Section 115JB. en-us Thu, 28 Jun 2012 00:00:00 +0530 Tue, 21 Aug 2012 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215872 The Tribunal upheld the disallowance of amounts transferred to Statutory Reserve and Reserve Fund, stating they are appropriations of profits and not deductible expenses. However, the Tribunal allowed the appeals related to disallowance under Section 14A with Rule 8D, emphasizing the need for the Assessing Officer to justify dissatisfaction before making additional disallowances. As a result, the Tribunal provided partial relief by deleting the disallowances under Section 14A for computing income under both regular provisions and Section 115JB. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215872