https://www.taxtmi.com/caselaws?id=382337 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It was held that disallowance under Section 14A cannot be imported while determining book profit under Section 115JB independently. The Tribunal's ad-hoc disallowance under clause (f) to Explanation-1 of Section 115JB was deemed appropriate to avoid further litigation. The Court emphasized the importance of following established legal precedents in tax law interpretation. en-us Mon, 24 Jun 2019 00:00:00 +0530 Sat, 29 Jun 2019 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382337 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It was held that disallowance under Section 14A cannot be imported while determining book profit under Section 115JB independently. The Tribunal's ad-hoc disallowance under clause (f) to Explanation-1 of Section 115JB was deemed appropriate to avoid further litigation. The Court emphasized the importance of following established legal precedents in tax law interpretation. Case-Laws Income Tax Mon, 24 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382337