https://www.taxtmi.com/caselaws?id=794410 Disallowance under section 14A read with Rule 8D was held to be capped at the exempt dividend income actually earned, so the excess computation was reduced accordingly. For AY 2011-12, SEZ profits were excluded from book profit under section 115JB because sub-section (6) then operated and its withdrawal was prospective from 01.04.2012. Deduction under section 10AA was denied for trading profits and alleged SEZ activity for AYs 2011-12 and 2012-13 because the assessee did not prove eligible operations. Outstanding trade liabilities were treated as ceased under section 41(1), and sundry creditors were sustained as additions under section 68 for failure to establish identity, creditworthiness and genuineness. en-us Tue, 30 Jun 2026 00:00:00 +0530 Sat, 04 Jul 2026 08:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794410 Disallowance under section 14A read with Rule 8D was held to be capped at the exempt dividend income actually earned, so the excess computation was reduced accordingly. For AY 2011-12, SEZ profits were excluded from book profit under section 115JB because sub-section (6) then operated and its withdrawal was prospective from 01.04.2012. Deduction under section 10AA was denied for trading profits and alleged SEZ activity for AYs 2011-12 and 2012-13 because the assessee did not prove eligible operations. Outstanding trade liabilities were treated as ceased under section 41(1), and sundry creditors were sustained as additions under section 68 for failure to establish identity, creditworthiness and genuineness. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794410