https://www.taxtmi.com/caselaws?id=327334 Investments made in sister concerns out of interest-free funds for strategic business purposes did not attract disallowance under section 14A read with rule 8D where the available own funds exceeded the investments and no expenditure for monitoring those investments was shown. The Tribunal also held that a section 14A disallowance cannot be mechanically added back while computing book profit under section 115JB, because MAT computation is confined to the specific adjustments permitted by that provision's Explanation. Accordingly, both the disallowance under section 14A and the corresponding adjustment to book profit were deleted in favour of the assessee. en-us Wed, 23 Mar 2016 00:00:00 +0530 Wed, 04 May 2016 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327334 Investments made in sister concerns out of interest-free funds for strategic business purposes did not attract disallowance under section 14A read with rule 8D where the available own funds exceeded the investments and no expenditure for monitoring those investments was shown. The Tribunal also held that a section 14A disallowance cannot be mechanically added back while computing book profit under section 115JB, because MAT computation is confined to the specific adjustments permitted by that provision's Explanation. Accordingly, both the disallowance under section 14A and the corresponding adjustment to book profit were deleted in favour of the assessee. Case-Laws Income Tax Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327334