https://www.taxtmi.com/caselaws?id=328278 The Tribunal partly allowed the appeal, providing relief on various grounds while upholding certain additions. The disallowance under Section 14A read with Rule 8D was upheld, along with the reduction of the lower of loss brought forward or unabsorbed depreciation in computing book profit under Section 115JB. However, additions such as interest income as per CASS and expenses disallowed under Section 14A in computing book profit were reversed in favor of the assessee. The charging of interest under Sections 234B and 234C was also deleted, following legal precedent. The addition to book profit for provisions for NPA and diminution in the value of investments was partly allowed based on the specific circumstances. en-us Fri, 27 May 2016 00:00:00 +0530 Mon, 30 May 2016 22:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328278 The Tribunal partly allowed the appeal, providing relief on various grounds while upholding certain additions. The disallowance under Section 14A read with Rule 8D was upheld, along with the reduction of the lower of loss brought forward or unabsorbed depreciation in computing book profit under Section 115JB. However, additions such as interest income as per CASS and expenses disallowed under Section 14A in computing book profit were reversed in favor of the assessee. The charging of interest under Sections 234B and 234C was also deleted, following legal precedent. The addition to book profit for provisions for NPA and diminution in the value of investments was partly allowed based on the specific circumstances. Case-Laws Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328278