https://www.taxtmi.com/caselaws?id=283361 The appeal of the Revenue was dismissed, and the Cross Objection of the assessee was allowed. The Tribunal upheld the deletion of disallowance under Section 40(a)(ia) and disallowance under Section 14A read with Rule 8D. The Tribunal directed the AO to re-compute and allow unabsorbed losses and depreciation. It was held that Section 115JB is not applicable to the assessee bank. As a result, no adjudication was required on additions/disallowances while assessing book profit under Section 115JB. en-us Tue, 21 Aug 2018 00:00:00 +0530 Fri, 20 Sep 2019 12:46:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283361 The appeal of the Revenue was dismissed, and the Cross Objection of the assessee was allowed. The Tribunal upheld the deletion of disallowance under Section 40(a)(ia) and disallowance under Section 14A read with Rule 8D. The Tribunal directed the AO to re-compute and allow unabsorbed losses and depreciation. It was held that Section 115JB is not applicable to the assessee bank. As a result, no adjudication was required on additions/disallowances while assessing book profit under Section 115JB. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283361