https://www.taxtmi.com/caselaws?id=339042 The Tribunal partly allowed the appeal, upholding the disallowance under Section 40A(3) of the Income-tax Act due to lack of substantiation for falling under exceptions specified under Rule 6DD. The disallowance under Section 14A was restricted to the amount of exempt income earned, following the Delhi High Court's decision in Joint Investments Pvt. Ltd. Vs. CIT. The issue of enhancing book profits under Section 115JB was remanded back to the Assessing Officer for further examination regarding the computation of provisions for leave encashment and gratuity, in line with the Supreme Court's judgment in Bharat Earth Movers Vs. CIT. en-us Fri, 18 Nov 2016 00:00:00 +0530 Wed, 15 Feb 2017 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339042 The Tribunal partly allowed the appeal, upholding the disallowance under Section 40A(3) of the Income-tax Act due to lack of substantiation for falling under exceptions specified under Rule 6DD. The disallowance under Section 14A was restricted to the amount of exempt income earned, following the Delhi High Court's decision in Joint Investments Pvt. Ltd. Vs. CIT. The issue of enhancing book profits under Section 115JB was remanded back to the Assessing Officer for further examination regarding the computation of provisions for leave encashment and gratuity, in line with the Supreme Court's judgment in Bharat Earth Movers Vs. CIT. Case-Laws Income Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339042