https://www.taxtmi.com/caselaws?id=284413 The appeal was filed against the disallowance of &8377; 12,86,148 under section 14A of the Income Tax Act for A.Y. 2008-09. The ITAT directed the AO to recompute the disallowance by excluding investments not yielding exempt income. Regarding the addition of disallowance under section 14A while computing book profit under section 115JB, it was held that only expenditure related to exempt income should be considered, not the disallowance calculated by the AO. The AO's action in adding the disallowance to book profit was deemed unjustified, resulting in the partial allowance of the assessee's appeal. en-us Thu, 21 Jun 2018 00:00:00 +0530 Wed, 15 Jan 2020 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284413 The appeal was filed against the disallowance of &8377; 12,86,148 under section 14A of the Income Tax Act for A.Y. 2008-09. The ITAT directed the AO to recompute the disallowance by excluding investments not yielding exempt income. Regarding the addition of disallowance under section 14A while computing book profit under section 115JB, it was held that only expenditure related to exempt income should be considered, not the disallowance calculated by the AO. The AO's action in adding the disallowance to book profit was deemed unjustified, resulting in the partial allowance of the assessee's appeal. Case-Laws Income Tax Thu, 21 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284413