https://www.taxtmi.com/caselaws?id=465075 ITAT Delhi allowed the assessee's appeal. It held that disallowance of expenditure under s.14A r.w.r. 8D was unjustified, as the AO failed to record satisfaction based on accounts and the tax-free investments were made from own/interest-free funds, including government-provided funds. Consequently, corresponding disallowance while computing book profit under s.115JB was also directed to be deleted. ITAT further held that amortisation of leasehold land, being in accordance with applicable ICAI accounting standards and the Companies Act, is permissible while computing book profit under s.115JB. On s.80IA, following earlier Tribunal orders in assessee's own case, ITAT directed recomputation of deduction without excluding the impugned income. en-us Thu, 14 Sep 2023 00:00:00 +0530 Thu, 04 Dec 2025 17:13:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465075 ITAT Delhi allowed the assessee's appeal. It held that disallowance of expenditure under s.14A r.w.r. 8D was unjustified, as the AO failed to record satisfaction based on accounts and the tax-free investments were made from own/interest-free funds, including government-provided funds. Consequently, corresponding disallowance while computing book profit under s.115JB was also directed to be deleted. ITAT further held that amortisation of leasehold land, being in accordance with applicable ICAI accounting standards and the Companies Act, is permissible while computing book profit under s.115JB. On s.80IA, following earlier Tribunal orders in assessee's own case, ITAT directed recomputation of deduction without excluding the impugned income. Case-Laws Income Tax Thu, 14 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465075