https://www.taxtmi.com/caselaws?id=338512 The Tribunal partly allowed the appeal filed by the revenue and treated the cross objection of the assessee as allowed. The Tribunal found merit in the assessee's submissions regarding the investments and application of Rule 8D for disallowance under section 14A, remanding the issue to the AO for fresh examination. The decision of the CIT(A) to exclude disallowance attributable to long-term capital gain for computing book profit under section 115JB was upheld. However, due to the remand on the disallowance issue, the calculation of disallowance for book profit was set aside for reconsideration by the AO. en-us Wed, 30 Nov 2016 00:00:00 +0530 Mon, 06 Feb 2017 10:12:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338512 The Tribunal partly allowed the appeal filed by the revenue and treated the cross objection of the assessee as allowed. The Tribunal found merit in the assessee's submissions regarding the investments and application of Rule 8D for disallowance under section 14A, remanding the issue to the AO for fresh examination. The decision of the CIT(A) to exclude disallowance attributable to long-term capital gain for computing book profit under section 115JB was upheld. However, due to the remand on the disallowance issue, the calculation of disallowance for book profit was set aside for reconsideration by the AO. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338512