https://www.taxtmi.com/caselaws?id=304302 The Tribunal partially allowed the assessee's appeals by limiting the disallowance under section 14A with Rule 8D to the amount of exempt dividend income and removing the additions of excise duty refund and interest subsidy from the computation of book profits under section 115JB. The Revenue's appeals were dismissed, affirming the CIT(A)'s ruling that the excise duty refund and interest subsidy are considered capital receipts not subject to taxation under the regular provisions of the Act for both assessment years 2011-12 and 2012-13. en-us Fri, 12 May 2017 00:00:00 +0530 Mon, 19 Sep 2022 09:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304302 The Tribunal partially allowed the assessee's appeals by limiting the disallowance under section 14A with Rule 8D to the amount of exempt dividend income and removing the additions of excise duty refund and interest subsidy from the computation of book profits under section 115JB. The Revenue's appeals were dismissed, affirming the CIT(A)'s ruling that the excise duty refund and interest subsidy are considered capital receipts not subject to taxation under the regular provisions of the Act for both assessment years 2011-12 and 2012-13. Case-Laws Income Tax Fri, 12 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304302