https://www.taxtmi.com/caselaws?id=777678 A reasonable suo motu apportionment of expenditure attributable to exempt income can stand under section 14A where it is made on a rational basis; absence of separate books does not, by itself, justify a mechanical invocation of Rule 8D. The discussion also states that electricity duty paid on captive power consumption should not be reduced while computing profits of an eligible undertaking under section 80IA where the notified tariff is exclusive of duty and the adjustment would be revenue neutral. The article therefore emphasises fair computation, substance over mechanical formulae, and tariff-based profit determination. en-us Tue, 26 Aug 2025 00:00:00 +0530 Wed, 03 Sep 2025 08:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777678 A reasonable suo motu apportionment of expenditure attributable to exempt income can stand under section 14A where it is made on a rational basis; absence of separate books does not, by itself, justify a mechanical invocation of Rule 8D. The discussion also states that electricity duty paid on captive power consumption should not be reduced while computing profits of an eligible undertaking under section 80IA where the notified tariff is exclusive of duty and the adjustment would be revenue neutral. The article therefore emphasises fair computation, substance over mechanical formulae, and tariff-based profit determination. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777678