https://www.taxtmi.com/caselaws?id=284136 Royalty paid for the right to use a logo was treated as revenue expenditure only if supported by the applicable earlier-year view, and the disallowance was sustained. Disallowance under section 14A was confined to the exempt income actually earned, as it cannot exceed the income to which it relates. Transfer to the statutory reserve under section 45-IC of the RBI Act was treated as application of income, remained taxable, and was includible in book profit under section 115JB. Interest under section 234D was upheld because it arose from excess refund granted on processing of the return. en-us Thu, 24 May 2018 00:00:00 +0530 Tue, 05 Nov 2019 09:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284136 Royalty paid for the right to use a logo was treated as revenue expenditure only if supported by the applicable earlier-year view, and the disallowance was sustained. Disallowance under section 14A was confined to the exempt income actually earned, as it cannot exceed the income to which it relates. Transfer to the statutory reserve under section 45-IC of the RBI Act was treated as application of income, remained taxable, and was includible in book profit under section 115JB. Interest under section 234D was upheld because it arose from excess refund granted on processing of the return. Case-Laws Income Tax Thu, 24 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284136