https://www.taxtmi.com/caselaws?id=347896 The delay of 23 days in filing the appeal by the assessee was condoned, and the appeal was admitted for disposal on merits. The tribunal held that the disallowance under Rule 8D r.w.s.14A of the Act should not exceed the exempt income earned, and the estimation made by the Ld.CIT(A) was unjustified. Regarding disallowance u/s 14A while computing book profits u/s 115JB, the tribunal directed the computation to be made in accordance with a Special Bench decision. The revenue's appeal challenging the deletion of disallowance under both provisions was dismissed, while the assessee's appeal was partly allowed. en-us Thu, 31 Aug 2017 00:00:00 +0530 Wed, 13 Sep 2017 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347896 The delay of 23 days in filing the appeal by the assessee was condoned, and the appeal was admitted for disposal on merits. The tribunal held that the disallowance under Rule 8D r.w.s.14A of the Act should not exceed the exempt income earned, and the estimation made by the Ld.CIT(A) was unjustified. Regarding disallowance u/s 14A while computing book profits u/s 115JB, the tribunal directed the computation to be made in accordance with a Special Bench decision. The revenue's appeal challenging the deletion of disallowance under both provisions was dismissed, while the assessee's appeal was partly allowed. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347896