https://www.taxtmi.com/caselaws?id=772921 ITAT Delhi ruled in favor of the assessee on multiple issues. The tribunal allowed exemption u/s 10(38) for sale of investment based on prior precedent. Disallowance u/s 14A was rejected as provisions don't apply when computing total income under Rule 5 r.w. section 44, and Rule 8D doesn't apply to book profit u/s 115JB. Addition for standard asset provision was deleted following earlier favorable ruling. Prior period revenue-neutral expenses were allowed. Computation error issue was remitted to AO for recalculation without revenue objection. en-us Wed, 09 Apr 2025 00:00:00 +0530 Thu, 12 Jun 2025 16:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772921 ITAT Delhi ruled in favor of the assessee on multiple issues. The tribunal allowed exemption u/s 10(38) for sale of investment based on prior precedent. Disallowance u/s 14A was rejected as provisions don't apply when computing total income under Rule 5 r.w. section 44, and Rule 8D doesn't apply to book profit u/s 115JB. Addition for standard asset provision was deleted following earlier favorable ruling. Prior period revenue-neutral expenses were allowed. Computation error issue was remitted to AO for recalculation without revenue objection. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772921