https://www.taxtmi.com/caselaws?id=360520 The Tribunal partly allowed both the assessee and revenue appeals. It held that disallowance under section 14A cannot exceed dividend income. Thus, no further disallowance was warranted under normal provisions, but directed a specific disallowance for computing book profits. Additionally, the Tribunal upheld the addition of liabilities written back as income under section 41(1) of the Act. The order was pronounced on 15.05.2018. en-us Tue, 15 May 2018 00:00:00 +0530 Fri, 18 May 2018 08:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360520 The Tribunal partly allowed both the assessee and revenue appeals. It held that disallowance under section 14A cannot exceed dividend income. Thus, no further disallowance was warranted under normal provisions, but directed a specific disallowance for computing book profits. Additionally, the Tribunal upheld the addition of liabilities written back as income under section 41(1) of the Act. The order was pronounced on 15.05.2018. Case-Laws Income Tax Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360520