https://www.taxtmi.com/caselaws?id=795072 Disallowance relating to exempt-income investments under section 14A read with Rule 8D was not sustained because the investments were limited, the assessee had sufficient own funds, and no changed facts or law justified departure from the consistently accepted position. The Sikkim unit remained eligible for deduction under section 80-IE, as no impermissible use of old machinery or reconstruction of an existing business was established. Amortisation of intangibles was not disallowable in computing book profit under section 115JB. A Debenture Redemption Reserve created for a known statutory redemption obligation constituted provision for an ascertained liability, not a reserve, and could be claimed in appellate proceedings despite omission from the original return. en-us Fri, 10 Jul 2026 00:00:00 +0530 Thu, 16 Jul 2026 09:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795072 Disallowance relating to exempt-income investments under section 14A read with Rule 8D was not sustained because the investments were limited, the assessee had sufficient own funds, and no changed facts or law justified departure from the consistently accepted position. The Sikkim unit remained eligible for deduction under section 80-IE, as no impermissible use of old machinery or reconstruction of an existing business was established. Amortisation of intangibles was not disallowable in computing book profit under section 115JB. A Debenture Redemption Reserve created for a known statutory redemption obligation constituted provision for an ascertained liability, not a reserve, and could be claimed in appellate proceedings despite omission from the original return. Case-Laws Income Tax Fri, 10 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795072