2014 (11) TMI 1169 - CALCUTTA HIGH COURT

Disallowance u/s 14A - Held that:- Tribunal has erred in law in upholding the order of CIT (Appeals) restricting the disallowance under section 14A from ₹ 2,20,15,787/- to ₹ 5,47,433/- relying on the decision of Godrej & Boyce manufacturing Ltd. vs. CIT (2010 (8) TMI 77 - BOMBAY HIGH COURT)

Disallowance u/s 14A not to be considered for book profit for calculation of book profit u/s 115JB - Held that:- We accept the submission of assessee that the provision of section 115JB in the matter of computation is a complete code in itself and resort need not and cannot be made to section 14A of the Act.