https://www.taxtmi.com/caselaws?id=763231 The ITAT Raipur held that additions under Section 14A read with Rule 8D cannot be made while computing book profit under Section 115JB, following precedent. However, adjustments for expenditure directly incurred for generating exempt income can be made under clause (f) of explanation 1 to Section 115JB(2). The matter was restored to AO for fresh adjudication to verify such expenditure. Regarding Section 153A assessments, the tribunal ruled that for unabated assessment years without incriminating material, no additions can be made, though AO retains powers under Sections 147/148 subject to statutory conditions, following Supreme Court precedent. en-us Fri, 22 Nov 2024 00:00:00 +0530 Sat, 14 Dec 2024 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763231 The ITAT Raipur held that additions under Section 14A read with Rule 8D cannot be made while computing book profit under Section 115JB, following precedent. However, adjustments for expenditure directly incurred for generating exempt income can be made under clause (f) of explanation 1 to Section 115JB(2). The matter was restored to AO for fresh adjudication to verify such expenditure. Regarding Section 153A assessments, the tribunal ruled that for unabated assessment years without incriminating material, no additions can be made, though AO retains powers under Sections 147/148 subject to statutory conditions, following Supreme Court precedent. Case-Laws Income Tax Fri, 22 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763231