https://www.taxtmi.com/caselaws?id=416438 The ITAT Chennai dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on disallowance of expenses under Section 14A of the Income Tax Act and while computing book profit under Section 115JB. The judgments were based on legal provisions and case law, affirming that no disallowance can be made under Section 14A without exempt income and that disallowance under Section 14A cannot be added to book profits under Section 115JB. en-us Mon, 29 Nov 2021 00:00:00 +0530 Wed, 29 Dec 2021 08:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416438 The ITAT Chennai dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on disallowance of expenses under Section 14A of the Income Tax Act and while computing book profit under Section 115JB. The judgments were based on legal provisions and case law, affirming that no disallowance can be made under Section 14A without exempt income and that disallowance under Section 14A cannot be added to book profits under Section 115JB. Case-Laws Income Tax Mon, 29 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416438