Disallowance while computing the profit u/s 115JB - disallowance ...

Disallowance in profit calculation u/s 115JB capped at 1% of exempted income, subject to Section 14A and Rule 8D limits.

June 17, 2020

Case Laws Income Tax AT

Disallowance while computing the profit u/s 115JB - disallowance limited on an ad-hoc basis @ 1 % of the exempted income under the clause (f) to Explanation-1 of Sec. 115JB of the Act subject to the condition that the disallowance shall not exceed the amount of disallowance determined by the authorities below under the provisions of section 14A r.w.r. 8D of Income Tax Rules.

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Disallowance while computing the profit u/s 115JB - disallowance ...

Disallowance in profit calculation u/s 115JB capped at 1% of exempted income, subject to Section 14A and Rule 8D limits.

June 17, 2020

Case Laws Income Tax AT

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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

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