https://www.taxtmi.com/caselaws?id=445090 ITAT Mumbai discussed several tax issues, including weighted deduction for scientific research expenditure under section 35(2AB), disallowance under section 14A read with Rule 8D, book-profit adjustments under section 115JB, exemption for capital gains from compulsory land acquisition, foreign tax credit, and multiple transfer pricing adjustments. It noted that Rule 8D requires recorded dissatisfaction after examining the accounts, and that section 14A disallowance cannot be mechanically carried into section 115JB. The article also states that interest on income-tax refund was excluded from book profit, while certain exemption, foreign tax credit, and transfer pricing matters were restored for fresh verification or recomputation. en-us Wed, 18 Oct 2023 00:00:00 +0530 Wed, 31 Jan 2024 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445090 ITAT Mumbai discussed several tax issues, including weighted deduction for scientific research expenditure under section 35(2AB), disallowance under section 14A read with Rule 8D, book-profit adjustments under section 115JB, exemption for capital gains from compulsory land acquisition, foreign tax credit, and multiple transfer pricing adjustments. It noted that Rule 8D requires recorded dissatisfaction after examining the accounts, and that section 14A disallowance cannot be mechanically carried into section 115JB. The article also states that interest on income-tax refund was excluded from book profit, while certain exemption, foreign tax credit, and transfer pricing matters were restored for fresh verification or recomputation. Case-Laws Income Tax Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445090