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2011 (3) TMI 1332 - KERALA HIGH COURTValidity of addition of proportionate expenditure attributable to exempted income in the course of completion of book profit assessment under Section 115JA of the I.T. Act - Held that:- While hearing another appeal filed against similar assessment of another bank, considering the issue and in that judgment the matter was remanded to AO to specifically consider the disallowance with reference to sub-clause (f) of Explanation to Section 115JA which was not considered by the assessing officer in that case. However, in this case, disallowance is specifically made with reference to the above provision, which is only Rs. 1 crore. Therefore following the judgment we allow the appeal filed by the revenue by reversing the order of the Tribunal and restoring the order of the first appellate authority confirming the disallowance to the above extent.
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