Disallowance u/s 14A r.w.r 8D - These expenses are directly ...

Expenses for Exempt Income Must Be Added Back to Book Profits u/s 115JB, Clause (f) Explanation-1.

April 20, 2020

Case Laws Income Tax AT

Disallowance u/s 14A r.w.r 8D - These expenses are directly relatable to earning of exempt income and the same has already been disallowed by the assessee while computing its income under normal provisions. However, the same has not been added back while computing Book Profits u/s115JB. Keeping in view the clause (f) to explanation-1 to Section 115JB (2), the same would be added back while computing Book Profits u/s 115JB.

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Disallowance u/s 14A r.w.r 8D - These expenses are directly ...

Expenses for Exempt Income Must Be Added Back to Book Profits u/s 115JB, Clause (f) Explanation-1.

April 20, 2020

Case Laws Income Tax AT

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