https://www.taxtmi.com/caselaws?id=380956 The Tribunal upheld the Commissioner's decision to restrict disallowance under section 14A r/w rule 8D to the exempt income earned by the assessee in the respective assessment years. It ruled that no disallowance under section 14A r/w rule 8D can be made while computing book profit under section 115JB, directing the Assessing Officer to reexamine and quantify the expenditure incurred for earning exempt income in accordance with Explanation-1(f) of section 115JB. Both appeals were partly allowed for statistical purposes, with detailed legal analysis provided. en-us Fri, 17 May 2019 00:00:00 +0530 Sat, 01 Jun 2019 07:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380956 The Tribunal upheld the Commissioner's decision to restrict disallowance under section 14A r/w rule 8D to the exempt income earned by the assessee in the respective assessment years. It ruled that no disallowance under section 14A r/w rule 8D can be made while computing book profit under section 115JB, directing the Assessing Officer to reexamine and quantify the expenditure incurred for earning exempt income in accordance with Explanation-1(f) of section 115JB. Both appeals were partly allowed for statistical purposes, with detailed legal analysis provided. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380956