https://www.taxtmi.com/caselaws?id=371550 The Tribunal allowed the appeal, condoning the delay in filing and directing the A.O to re-compute the disallowance under Section 14A read with Rule 8D(2)(iii) by considering only investments yielding exempt income. It was held that the disallowance under Section 14A should not be factored into computing 'book profit' under Section 115JB. The A.O was tasked with recalculating the disallowance accordingly. en-us Fri, 30 Nov 2018 00:00:00 +0530 Thu, 06 Dec 2018 05:35:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371550 The Tribunal allowed the appeal, condoning the delay in filing and directing the A.O to re-compute the disallowance under Section 14A read with Rule 8D(2)(iii) by considering only investments yielding exempt income. It was held that the disallowance under Section 14A should not be factored into computing 'book profit' under Section 115JB. The A.O was tasked with recalculating the disallowance accordingly. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371550