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2022 (8) TMI 952 - AT - Income TaxReduction into book loss owing to disallowance made u/s 14A - Whether the provisions of section 115JB are attracted only when there are book profits? - HELD THAT:- We are of the considered view that the assessee seeks to agitate the reduction into book loss owing to disallowance made u/s 14A - However, the reduction to book loss has no potential to cause any prejudice to the assessee at present or in future as per scheme of the act. Hence, the litigation by the assessee is a futile exercise. Therefore, we are not inclined to engage in disposal of such litigation on merit. Hence, the grounds raised by the assessee are rejected.
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