https://www.taxtmi.com/caselaws?id=284439 Disallowance under section 14A is not to be mechanically imported into book profit computation under section 115JB; the computation must instead follow the relevant Explanation to section 115JB and applicable Tribunal guidance. For Rule 8D purposes, only investments yielding exempt income are to be considered under the third limb, and the resulting disallowance cannot exceed the actual administrative expenditure debited to the profit and loss account. Interest on a loan treated as a non-performing asset by a registered NBFC is not required to be recognised on accrual basis where RBI prudential income-recognition norms apply, so such interest is taxed only on actual recognition. en-us Thu, 22 Nov 2018 00:00:00 +0530 Tue, 19 Nov 2019 10:18:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284439 Disallowance under section 14A is not to be mechanically imported into book profit computation under section 115JB; the computation must instead follow the relevant Explanation to section 115JB and applicable Tribunal guidance. For Rule 8D purposes, only investments yielding exempt income are to be considered under the third limb, and the resulting disallowance cannot exceed the actual administrative expenditure debited to the profit and loss account. Interest on a loan treated as a non-performing asset by a registered NBFC is not required to be recognised on accrual basis where RBI prudential income-recognition norms apply, so such interest is taxed only on actual recognition. Case-Laws Income Tax Thu, 22 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284439