https://www.taxtmi.com/caselaws?id=412731 The Tribunal partially allowed the assessee's appeal regarding the disallowance of expenditure under Section 14A r.w. Rule 8D for assessment years 2013-14 and 2014-15. The matter was remitted back to the Assessing Officer for further verification. Additionally, the Tribunal clarified the computation of book profits under Section 115JB, directing the computation based on direct expenditure for earning exempt income. However, the disallowance of corporate sponsorship/fee paid to a Tennis Academy was upheld as personal expenses not connected to the business. en-us Thu, 16 Sep 2021 00:00:00 +0530 Sat, 25 Sep 2021 09:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412731 The Tribunal partially allowed the assessee's appeal regarding the disallowance of expenditure under Section 14A r.w. Rule 8D for assessment years 2013-14 and 2014-15. The matter was remitted back to the Assessing Officer for further verification. Additionally, the Tribunal clarified the computation of book profits under Section 115JB, directing the computation based on direct expenditure for earning exempt income. However, the disallowance of corporate sponsorship/fee paid to a Tennis Academy was upheld as personal expenses not connected to the business. Case-Laws Income Tax Thu, 16 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412731