https://www.taxtmi.com/caselaws?id=179100 The ITAT Chandigarh ruled in favor of the assessee in a case concerning the computation of book profits under section 115JB of the Income Tax Act, 1961, and the disallowance under section 14A. The ITAT held that the disallowance under section 14A should not be added back to the book profits under section 115JB, emphasizing that notional disallowances should not impact the determination of book profits. The ITAT referred to previous decisions and upheld the deletion of additions made by the Assessing Officer, dismissing the Revenue's appeal and directing the adoption of book profits without adding back the disallowance under section 14A. en-us Fri, 06 Jun 2014 00:00:00 +0530 Tue, 20 Sep 2022 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179100 The ITAT Chandigarh ruled in favor of the assessee in a case concerning the computation of book profits under section 115JB of the Income Tax Act, 1961, and the disallowance under section 14A. The ITAT held that the disallowance under section 14A should not be added back to the book profits under section 115JB, emphasizing that notional disallowances should not impact the determination of book profits. The ITAT referred to previous decisions and upheld the deletion of additions made by the Assessing Officer, dismissing the Revenue's appeal and directing the adoption of book profits without adding back the disallowance under section 14A. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179100