https://www.taxtmi.com/caselaws?id=392119 Book profit under section 115JB was examined in relation to a contingency provision, and its character as an unascertained liability depended on the subsequent payment and the actual fate of the underlying security charge liability, so the matter was remitted for fresh verification. Under section 80IA, interest income was held eligible on binding precedent, but rent recovery, scrap sales, sundry revenue and foreign exchange gain were denied because they lacked the direct nexus required as profits derived from the undertaking. The transfer pricing adjustment on technical services payment was sustained in line with the assessee's earlier years. Disallowance under section 14A read with rule 8D was remitted for recomputation on settled principles, including restriction to exempt income and consideration of interest-free funds. en-us Mon, 03 Feb 2020 00:00:00 +0530 Fri, 14 Feb 2020 09:52:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392119 Book profit under section 115JB was examined in relation to a contingency provision, and its character as an unascertained liability depended on the subsequent payment and the actual fate of the underlying security charge liability, so the matter was remitted for fresh verification. Under section 80IA, interest income was held eligible on binding precedent, but rent recovery, scrap sales, sundry revenue and foreign exchange gain were denied because they lacked the direct nexus required as profits derived from the undertaking. The transfer pricing adjustment on technical services payment was sustained in line with the assessee's earlier years. Disallowance under section 14A read with rule 8D was remitted for recomputation on settled principles, including restriction to exempt income and consideration of interest-free funds. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392119