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2014 (2) TMI 745 - AT - Income TaxApplication u/s 254(2) of the Act Disallowance u/s 14A of the Act Computation of book profits u/s 115JB of the Act Held that:- The matter is principally and primarily factual - the legal mandate for the adjustment, which could though only extend to the expenditure actually incurred and booked in accounts, being provided by Explanation 1(f) to section 115JB of the Act - The tribunal was of the view that the adjustment was against the dividend income thus, there is no basis for cancellation or for even a case for restoration of the matter to the assessing authority as having been made out thus, there was no merit in the assessee's application Decided against Assessee.
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