https://www.taxtmi.com/caselaws?id=376543 The Appellate Tribunal ruled in favor of the assessee on multiple issues. It directed the Assessing Officer to consider only investments yielding exempt income for computing disallowance under section 14A. Additionally, it held that disallowance under section 14A cannot be added while computing book profits under section 115JB. The Tribunal also instructed the AO to recompute interest under section 234D. Furthermore, it upheld allowing depreciation at revalued cost of machinery instead of WDV based on previous favorable Tribunal decisions. The appeal filed by the revenue was dismissed. en-us Thu, 28 Feb 2019 00:00:00 +0530 Tue, 12 Mar 2019 08:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376543 The Appellate Tribunal ruled in favor of the assessee on multiple issues. It directed the Assessing Officer to consider only investments yielding exempt income for computing disallowance under section 14A. Additionally, it held that disallowance under section 14A cannot be added while computing book profits under section 115JB. The Tribunal also instructed the AO to recompute interest under section 234D. Furthermore, it upheld allowing depreciation at revalued cost of machinery instead of WDV based on previous favorable Tribunal decisions. The appeal filed by the revenue was dismissed. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376543