https://www.taxtmi.com/caselaws?id=344853 ITAT held that for computing clause (f) of Explanation 1 to s.115JB(2) the disallowance under s.14A (and Rule 8D computation) is not to be mechanically applied; book-profit computation under MAT must be made without resort to the s.14A/Rule 8D formula. For Rule 8D average-investment, only investments that actually yielded exempt income in the year are to be considered; matter remanded to AO for recomputation. Revenue's appeal dismissed; assessee's cross-objection allowed for statistical purposes. Additions under s.94(7) and notional interest issues were upheld as per CIT(A). en-us Fri, 16 Jun 2017 00:00:00 +0530 Wed, 24 Jun 2026 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344853 ITAT held that for computing clause (f) of Explanation 1 to s.115JB(2) the disallowance under s.14A (and Rule 8D computation) is not to be mechanically applied; book-profit computation under MAT must be made without resort to the s.14A/Rule 8D formula. For Rule 8D average-investment, only investments that actually yielded exempt income in the year are to be considered; matter remanded to AO for recomputation. Revenue's appeal dismissed; assessee's cross-objection allowed for statistical purposes. Additions under s.94(7) and notional interest issues were upheld as per CIT(A). Case-Laws Income Tax Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344853