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2015 (11) TMI 277 - AT - Income TaxAddition made under section 14A r.w. 115JB - MAT computation - CIT(A) deleted the addition - whether the provisions of section 115JB(2) r.w. Explanation-1 r.w. clause of which requires any expenditure in relation to the exempt income also to be taken into consideration while computing the book profit under section 115JB? - Held that:- No infirmity with the orders of the AO and we hold that the AO has rightly disallowed the expenditure of ₹ 73,07,018/- by invoking the provisions of Section 14A of the Act read with Rule 8D of Income Tax Rules, 1962 for computing book profit u/s 115JB(2) of the Act read with clause (f) to explanation 1 to clause 115JB(2) of the Act. - Decided in favour of revenue.
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