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2014 (5) TMI 1082 - AT - Income TaxMAT - Computation of book profits under section 115JB - addition on account of disallowance worked out under section 14A - plea of the assessee in this regard was that the assessee itself had disallowed sum on account of disallowance under section 14A under regular provisions and under section 115JB provision in its return of income on proportionate basis - Held that:- Similar issue of computation of book profits under section 115JB of the Act in view of readjustment on account of disallowance under section 14A of the Act arose before the Tribunal in assessee’s own case relating to assessment year 2008-09 wherein as directed Assessing Officer to adopt the book profits as per the Profit & Loss Account and do not make addition on account of disallowance worked out under section 14A of the Act, as such disallowance is computed under the normal provision of the Act, which are not applicable for determining book profits under section 115JB of the Act. - Decided in favour of assessee
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