https://www.taxtmi.com/caselaws?id=294793 The Tribunal partially allowed the appeal in ITA No.1004/Mum/2015 for A.Y.2010-11 concerning disallowance under section 14A of the Income Tax Act, 1961. The disallowance of expenses under rule 8D(2) was deleted based on the availability of own funds for investments. Administrative expenses disallowance was directed to be considered only for investments yielding exempt income. Regarding computation of book profits under section 115JB, the Tribunal held that rule 8D(2) could not apply, directing consideration of actual expenses debited to the profit and loss account. The appeal was partly allowed for statistical purposes. en-us Fri, 16 Aug 2019 00:00:00 +0530 Mon, 03 May 2021 21:01:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294793 The Tribunal partially allowed the appeal in ITA No.1004/Mum/2015 for A.Y.2010-11 concerning disallowance under section 14A of the Income Tax Act, 1961. The disallowance of expenses under rule 8D(2) was deleted based on the availability of own funds for investments. Administrative expenses disallowance was directed to be considered only for investments yielding exempt income. Regarding computation of book profits under section 115JB, the Tribunal held that rule 8D(2) could not apply, directing consideration of actual expenses debited to the profit and loss account. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 16 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294793