https://www.taxtmi.com/caselaws?id=190213 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses under section 14A of the IT Act for the assessment year 2008-09, holding that expenses related to trading shares could not be disallowed. The issue was remanded to the AO for fresh computation. Additionally, the Tribunal upheld the CIT (A)'s decision to allow the claim for rebate under section 88E while computing the book profit under section 115 JB, based on the absence of contradictory judgments and in line with relevant legal precedents. The revenue's appeal was dismissed. en-us Wed, 12 Jun 2013 00:00:00 +0530 Fri, 10 Mar 2023 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190213 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses under section 14A of the IT Act for the assessment year 2008-09, holding that expenses related to trading shares could not be disallowed. The issue was remanded to the AO for fresh computation. Additionally, the Tribunal upheld the CIT (A)'s decision to allow the claim for rebate under section 88E while computing the book profit under section 115 JB, based on the absence of contradictory judgments and in line with relevant legal precedents. The revenue's appeal was dismissed. Case-Laws Income Tax Wed, 12 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190213