https://www.taxtmi.com/caselaws?id=401981 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 34,75,731/- made under Section 50D of the Income Tax Act, 1961, as it found the authorities erred in applying this provision without proper inquiry. Additionally, the Tribunal directed the AO to exclude the disallowance of Rs. 80,717/- under Section 14A from the computation of book profit under Section 115JB, aligning with established judicial precedents. en-us Fri, 18 Dec 2020 00:00:00 +0530 Thu, 07 Nov 2024 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401981 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 34,75,731/- made under Section 50D of the Income Tax Act, 1961, as it found the authorities erred in applying this provision without proper inquiry. Additionally, the Tribunal directed the AO to exclude the disallowance of Rs. 80,717/- under Section 14A from the computation of book profit under Section 115JB, aligning with established judicial precedents. Case-Laws Income Tax Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401981