No disallowance can be made u/s 14A of the IT Act for Computing Book Profit  u/s 115JB of Act: ITAT [Read Order]

disallowance uS 14A - IT Act for Computing Book Profit - uS 115JB Act - ITAT - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no disallowance could be made under Section 14A of the Income Tax Act, 1961 for computing book profit under Section 115JB of Income Tax Act, 1961. Section 14A of the Income Tax Act states that, for computing total income no deduction…

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