https://www.taxtmi.com/caselaws?id=435010 The Tribunal partially allowed the additional ground raised by the assessee, restricting the disallowance under Section 14A read with Rule 8D to the amount of exempt income earned during the year. Regarding the disallowance made under Section 40(a)(ia) of the Act, the Tribunal upheld the decision of the learned Commissioner (Appeals), dismissing the revenue's challenge. In the appeal related to the computation of book profit under section 115JB of the Act, the Tribunal dismissed the revenue's ground, clarifying that no adjustment could be made with reference to Section 14A read with Rule 8D while computing book profit. en-us Tue, 31 Jan 2023 00:00:00 +0530 Thu, 09 Mar 2023 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435010 The Tribunal partially allowed the additional ground raised by the assessee, restricting the disallowance under Section 14A read with Rule 8D to the amount of exempt income earned during the year. Regarding the disallowance made under Section 40(a)(ia) of the Act, the Tribunal upheld the decision of the learned Commissioner (Appeals), dismissing the revenue's challenge. In the appeal related to the computation of book profit under section 115JB of the Act, the Tribunal dismissed the revenue's ground, clarifying that no adjustment could be made with reference to Section 14A read with Rule 8D while computing book profit. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435010