https://www.taxtmi.com/caselaws?id=295787 ITAT Delhi reiterated that disallowance under section 14A read with Rule 8D cannot exceed the exempt dividend income, so the assessee's further disallowance was confined to that limit and the additional addition was deleted. It also upheld deletion of the disallowance relating to the employer's provident fund contribution because the fund remained a recognised provident fund and its recognition had not been withdrawn. On book profit under section 115JB, the Tribunal sustained deletion of the addition for prior period expenses, holding that such expenditure is not automatically added back absent a specific statutory adjustment. en-us Mon, 22 Feb 2016 00:00:00 +0530 Mon, 21 Jun 2021 09:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295787 ITAT Delhi reiterated that disallowance under section 14A read with Rule 8D cannot exceed the exempt dividend income, so the assessee's further disallowance was confined to that limit and the additional addition was deleted. It also upheld deletion of the disallowance relating to the employer's provident fund contribution because the fund remained a recognised provident fund and its recognition had not been withdrawn. On book profit under section 115JB, the Tribunal sustained deletion of the addition for prior period expenses, holding that such expenditure is not automatically added back absent a specific statutory adjustment. Case-Laws Income Tax Mon, 22 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295787