https://www.taxtmi.com/caselaws?id=457628 ITAT Chennai upheld CIT(A)'s direction that disallowance under section 14A should only consider investments yielding exempt income during the relevant year, following Vireet Investment precedent. The tribunal dismissed revenue's appeal on this issue. However, regarding disallowance under section 115JB for book profit computation, the matter was remitted to AO for fresh adjudication, directing computation without applying section 14A read with Rule 8D provisions. Revenue's appeal was partly allowed for statistical purposes. en-us Fri, 01 Nov 2019 00:00:00 +0530 Tue, 24 Sep 2024 18:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457628 ITAT Chennai upheld CIT(A)'s direction that disallowance under section 14A should only consider investments yielding exempt income during the relevant year, following Vireet Investment precedent. The tribunal dismissed revenue's appeal on this issue. However, regarding disallowance under section 115JB for book profit computation, the matter was remitted to AO for fresh adjudication, directing computation without applying section 14A read with Rule 8D provisions. Revenue's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 01 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457628