https://www.taxtmi.com/caselaws?id=773598 ITAT Kolkata held that disallowance under section 14A read with Rule 8D applies only to investments yielding exempt income in the relevant assessment year. The CIT(A) correctly directed the AO to recompute disallowance considering only such income-generating investments. Additionally, the tribunal ruled that section 14A disallowance being notional cannot be included while computing book profit under section 115JB for MAT purposes. en-us Mon, 23 Jun 2025 00:00:00 +0530 Wed, 25 Jun 2025 09:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773598 ITAT Kolkata held that disallowance under section 14A read with Rule 8D applies only to investments yielding exempt income in the relevant assessment year. The CIT(A) correctly directed the AO to recompute disallowance considering only such income-generating investments. Additionally, the tribunal ruled that section 14A disallowance being notional cannot be included while computing book profit under section 115JB for MAT purposes. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773598