https://www.taxtmi.com/caselaws?id=378174 The Tribunal remitted the issue of disallowance of prior period expenses back to the AO, resulting in a reduced disallowance. The CIT(A) deleted the disallowance, citing the revenue nature of prior period expenses. Regarding disallowance under section 14A, the CIT(A) partially upheld the disallowance, with the Tribunal directing consideration of average investment for calculating administrative expenses. The Tribunal held that disallowance under section 14A should not impact book profit calculation under section 115JB, dismissing the Revenue's appeal and partly allowing the assessee's appeal. en-us Mon, 08 Apr 2019 00:00:00 +0530 Tue, 09 Apr 2019 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378174 The Tribunal remitted the issue of disallowance of prior period expenses back to the AO, resulting in a reduced disallowance. The CIT(A) deleted the disallowance, citing the revenue nature of prior period expenses. Regarding disallowance under section 14A, the CIT(A) partially upheld the disallowance, with the Tribunal directing consideration of average investment for calculating administrative expenses. The Tribunal held that disallowance under section 14A should not impact book profit calculation under section 115JB, dismissing the Revenue's appeal and partly allowing the assessee's appeal. Case-Laws Income Tax Mon, 08 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378174