2020 (9) TMI 1164 - HC - Income Tax

Appeal admitted on the following substantial questions of law - A Whether the Appellate Tribunal has erred in law and on facts in deleting the disallowance of 1, 72, 56, 662/- made under section 14A r.w. Rule 8D? B Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of 38, 21, 121/- made on account of closing stock? C Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of 1, 72, 72, 292/- being the disallowance made under section 14A r.w.r. 8D to the book profit while calculating book profit under section 115JB of the Act?

Summary

The Gujarat High Court admitted a Tax Appeal on substantial questions of law related to disallowance under section 14A, addition on account of closing stock, and disallowance in book profit calculation under section 115JB. The appeal is scheduled for final hearing along with two other Tax Appeals.