https://www.taxtmi.com/caselaws?id=437510 Share of profit from a partnership firm was treated as income already taxed at firm level, so section 14A disallowance under Rule 8D was held not to apply in that context, subject to recomputation where no exempt income existed. Loan and sundry advance write-offs were accepted as business losses because they arose from business exigency and a failed commercial venture. Delay in realisation of receivables from associated enterprises was not treated as a separate international transaction warranting notional interest adjustment. An integrated business of handling, storage and transportation of food grains was held eligible for deduction under section 80IB(11A) where statutory conditions were satisfied. en-us Thu, 04 May 2023 00:00:00 +0530 Sun, 07 May 2023 22:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437510 Share of profit from a partnership firm was treated as income already taxed at firm level, so section 14A disallowance under Rule 8D was held not to apply in that context, subject to recomputation where no exempt income existed. Loan and sundry advance write-offs were accepted as business losses because they arose from business exigency and a failed commercial venture. Delay in realisation of receivables from associated enterprises was not treated as a separate international transaction warranting notional interest adjustment. An integrated business of handling, storage and transportation of food grains was held eligible for deduction under section 80IB(11A) where statutory conditions were satisfied. Case-Laws Income Tax Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437510