Disallowance made u/s.14A of the Act while computing book profit ...

Income Tax

May 12, 2021

Disallowance made u/s.14A of the Act while computing book profit u/s.115JB - actual expenses debited to profit and loss account which are incurred for the purpose of earning exempt income need to be disallowed under Clause (f) of Explanation 1 to Section 115JB(2) of the Act. As stated supra, we find that assessee had already made disallowance voluntarily in the return of income which alone need to be considered for the purpose of computation of book profits u/s 115JB of the Act. Hence, no further disallowance need to be made thereon. - AT

View Source

← Previous Next →

Disallowance made u/s.14A of the Act while computing book profit ...

Income Tax

May 12, 2021

You may also like:

MAT - adjustment - adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB

The disallowance made u/s 14A cannot be included in the book profit for the purpose of section 115JB - AT

Disallowance u/s 14A r.w.r. 8D - the disallowances made u/s 14A of the Act r.w.r. 8D cannot be the subject matter of disallowances while determining the book profit u/s...

Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

Disallowance u/s 14A - The expenditure incurred exclusively for business activity cannot be included in such attributable expenses for the purpose of disallowance u/s.14A - AT

Disallowance of proportionate cost of land out of solid waste tank expense – cost of land debited by the Assessee in Profit and Loss account is not allowable as revenue...

MAT computation - amount disallowed under Sec. 14A cannot be added to arrive at the book profit for the purposes of Sec. 115JB - AT

Expenditure relatable to exempt income as provided under sub section (1) of section 14A is required to be added back while computing book profit under section 115JB - AT

MAT computation - Addition made to the book profit computed u/s 115JB on disallowance computed u/s 14A in respect of exempt income - the disallowance made u/s 14A is a...

Addition to the book profit u/s 115JB for the amount disallowed u/s 14A r.w. Rule 8D - the tribunal noted that the AO had made the disallowance under Section 14A, but...

Quick Updates: