https://www.taxtmi.com/caselaws?id=307505 The Tribunal allowed the write-off of investments as a business loss for the government company promoting IT and ITES sectors. However, it upheld the addition of a provision for doubtful investments and loans while computing book profits under section 115JB. The issue of apportioning expenses towards rental income was remanded for further adjudication. The disallowance under section 14A was deleted as the AO did not satisfy the requirements before applying Rule 8D. The appeals for the assessment years 2008-09 and 2009-10 were partly allowed and dismissed accordingly. en-us Fri, 24 Aug 2018 00:00:00 +0530 Tue, 18 Apr 2023 21:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307505 The Tribunal allowed the write-off of investments as a business loss for the government company promoting IT and ITES sectors. However, it upheld the addition of a provision for doubtful investments and loans while computing book profits under section 115JB. The issue of apportioning expenses towards rental income was remanded for further adjudication. The disallowance under section 14A was deleted as the AO did not satisfy the requirements before applying Rule 8D. The appeals for the assessment years 2008-09 and 2009-10 were partly allowed and dismissed accordingly. Case-Laws Income Tax Fri, 24 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307505