https://www.taxtmi.com/caselaws?id=391528 The court ruled in favor of the assessee on all issues, emphasizing that no actual expenditure was incurred in earning dividend income, which cannot be considered an expense under Section 14A. The judgment highlighted the importance of a comprehensive understanding of the provisions under Sections 115JA and 115JB, ensuring a fair and just application of the law in the specific context of the case. The court also clarified that certain provisions, including Section 114A read with rule 8D, are prospective and cannot be retroactively applied, ultimately deciding in favor of the assessee on the treatment of interest on zero coupon bonds for book profit computation under Section 115JB. en-us Fri, 17 Jan 2020 00:00:00 +0530 Mon, 22 Jun 2020 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391528 The court ruled in favor of the assessee on all issues, emphasizing that no actual expenditure was incurred in earning dividend income, which cannot be considered an expense under Section 14A. The judgment highlighted the importance of a comprehensive understanding of the provisions under Sections 115JA and 115JB, ensuring a fair and just application of the law in the specific context of the case. The court also clarified that certain provisions, including Section 114A read with rule 8D, are prospective and cannot be retroactively applied, ultimately deciding in favor of the assessee on the treatment of interest on zero coupon bonds for book profit computation under Section 115JB. Case-Laws Income Tax Fri, 17 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391528