https://www.taxtmi.com/caselaws?id=776090 The ITAT Ahmedabad partially allowed the appeal regarding addition under section 14A while computing book profits under section 115JB, holding that no notional disallowance can be made for the purpose of Section 10 as per Explanation 1(F) to Section 115JB. However, since the assessee had suo moto disallowed direct and administrative expenses and claimed no expenditure on tax-free income, the tribunal remanded the matter to the AO for verification of the reconciliation statement and proper adjudication under section 14A read with rule 8D(2)(ii). The ground was partly allowed for statistical purposes. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776090 The ITAT Ahmedabad partially allowed the appeal regarding addition under section 14A while computing book profits under section 115JB, holding that no notional disallowance can be made for the purpose of Section 10 as per Explanation 1(F) to Section 115JB. However, since the assessee had suo moto disallowed direct and administrative expenses and claimed no expenditure on tax-free income, the tribunal remanded the matter to the AO for verification of the reconciliation statement and proper adjudication under section 14A read with rule 8D(2)(ii). The ground was partly allowed for statistical purposes. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776090