https://www.taxtmi.com/caselaws?id=303197 Disallowance under section 14A read with rule 8D(2)(iii) must be linked to the actual administrative expenditure recorded in the accounts and cannot exceed the amount of expense claimed; the Tribunal directed deletion of the excess addition. For book profit under section 115JB, the section 14A computation cannot be imported mechanically, because MAT requires an independent working under clause (f) of Explanation 1 for expenditure relatable to exempt income; the addition was set aside and remitted for fresh computation. The assessee succeeded on the first issue, while the MAT issue was restored to the Assessing Officer. en-us Fri, 15 Dec 2017 00:00:00 +0530 Fri, 08 Jul 2022 09:32:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303197 Disallowance under section 14A read with rule 8D(2)(iii) must be linked to the actual administrative expenditure recorded in the accounts and cannot exceed the amount of expense claimed; the Tribunal directed deletion of the excess addition. For book profit under section 115JB, the section 14A computation cannot be imported mechanically, because MAT requires an independent working under clause (f) of Explanation 1 for expenditure relatable to exempt income; the addition was set aside and remitted for fresh computation. The assessee succeeded on the first issue, while the MAT issue was restored to the Assessing Officer. Case-Laws Income Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303197