https://www.taxtmi.com/caselaws?id=249871 The Appellate Tribunal upheld the Ld. CIT(A)'s findings on the applicability of Section 14A read with Rule 8D for disallowance, directing the exclusion of specific interest amounts directly attributable to business activities from the disallowance calculation. The disallowance of administrative expenses was confirmed, but the issue was remanded back to the AO for fresh consideration due to lack of specific findings on net worth and SPV creation. The computation of book profit under Section 115JB was to be adjusted based on the revised disallowance calculation, with both parties' appeals partly allowed for statistical purposes. en-us Wed, 23 Jul 2014 00:00:00 +0530 Sun, 27 Jul 2014 10:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249871 The Appellate Tribunal upheld the Ld. CIT(A)'s findings on the applicability of Section 14A read with Rule 8D for disallowance, directing the exclusion of specific interest amounts directly attributable to business activities from the disallowance calculation. The disallowance of administrative expenses was confirmed, but the issue was remanded back to the AO for fresh consideration due to lack of specific findings on net worth and SPV creation. The computation of book profit under Section 115JB was to be adjusted based on the revised disallowance calculation, with both parties' appeals partly allowed for statistical purposes. Case-Laws Income Tax Wed, 23 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249871