ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]

ITAT deletes Addition of - DisallowanceIncome Tax Act on Computation of - Book Profit - TAXSCAN

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted and Addition of disallowance under Section 14A of Income Tax Act 1961 while computing book profit under Section 115JB of Income Tax Act. Assessee-Strides Arcolab Limitedis engaged in the business of manufacturing pharmaceutical formulations. For the assessment year 2010-11, the assessee filed…

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