https://www.taxtmi.com/caselaws?id=795919 Section 80IA(5) governs computation of eligible undertaking profits but does not confine the resulting deduction to business income; sections 80A and 80AB permit deduction up to gross total income, subject to the statutory ceiling. Interest for delayed provident fund remittances under section 7Q is compensatory and deductible, whereas damages under section 14B are penal and disallowable. Reversal of a previously disallowed sick-leave provision requires verification to prevent double taxation. Section 14A read with Rule 8D cannot disallow expenditure where no exempt income arose; the Finance Act 2022 Explanation applies prospectively. en-us Fri, 19 Jun 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795919 Section 80IA(5) governs computation of eligible undertaking profits but does not confine the resulting deduction to business income; sections 80A and 80AB permit deduction up to gross total income, subject to the statutory ceiling. Interest for delayed provident fund remittances under section 7Q is compensatory and deductible, whereas damages under section 14B are penal and disallowable. Reversal of a previously disallowed sick-leave provision requires verification to prevent double taxation. Section 14A read with Rule 8D cannot disallow expenditure where no exempt income arose; the Finance Act 2022 Explanation applies prospectively. Case-Laws Income Tax Fri, 19 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795919