https://www.taxtmi.com/caselaws?id=271753 Section 115JB was treated as inapplicable to a statutory corporation not registered under the Companies Act, 1956, because the deeming and computation scheme is tied to company accounts prepared under that Act; the later Explanation 3 was noted as prospective. Rule 8D disallowance under section 14A requires recorded dissatisfaction and a nexus with borrowed funds, and the provision cannot be used mechanically when own funds exceed investments. Where advance tax falls due on a holiday and payment is made on the next working day, section 10 of the General Clauses Act supports non-levy of interest under section 234C. en-us Wed, 13 Jan 2016 00:00:00 +0530 Tue, 16 Feb 2016 06:17:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271753 Section 115JB was treated as inapplicable to a statutory corporation not registered under the Companies Act, 1956, because the deeming and computation scheme is tied to company accounts prepared under that Act; the later Explanation 3 was noted as prospective. Rule 8D disallowance under section 14A requires recorded dissatisfaction and a nexus with borrowed funds, and the provision cannot be used mechanically when own funds exceed investments. Where advance tax falls due on a holiday and payment is made on the next working day, section 10 of the General Clauses Act supports non-levy of interest under section 234C. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271753