https://www.taxtmi.com/caselaws?id=283403 Deduction under section 36(1)(viia) was linked to business income computed under the Act and not reduced first by brought forward losses, so the assessee's claim was upheld. Interest adjustment under section 24A was to follow the earlier Tribunal view that refunds are first adjusted against interest payable, which favoured the assessee. Disallowance under section 14A read with Rule 8D and the section 36(1)(viii) claim were sent back for fresh examination with directions on recomputation. Claims for bad debts written off, loss on revaluation of trading derivatives, and deduction under section 80LA were sustained, while the Tribunal also required reconsideration of the section 36(1)(viia) restriction and related eligible-advances computation. en-us Thu, 17 Dec 2015 00:00:00 +0530 Sat, 21 Sep 2019 12:30:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283403 Deduction under section 36(1)(viia) was linked to business income computed under the Act and not reduced first by brought forward losses, so the assessee's claim was upheld. Interest adjustment under section 24A was to follow the earlier Tribunal view that refunds are first adjusted against interest payable, which favoured the assessee. Disallowance under section 14A read with Rule 8D and the section 36(1)(viii) claim were sent back for fresh examination with directions on recomputation. Claims for bad debts written off, loss on revaluation of trading derivatives, and deduction under section 80LA were sustained, while the Tribunal also required reconsideration of the section 36(1)(viia) restriction and related eligible-advances computation. Case-Laws Income Tax Thu, 17 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283403