Provisions u/s 14A of Income Tax Act not Applicable in Computing Book Profit u/s. 115JB: ITAT [Read Order]

The Tribunal held that the provisions of Section 14A of the Income Tax Act cannot be applied to computing the book profit under Section 115JB of the Income Tax Act

By Saagarika Gopinath - On November 28, 2024 1:12 pm - 2 mins read

income tax - income tax act - computing book profit - Income Tax Appellate Tribunal - ITAT TAXSCAN

Recently, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the provisions of Section 14A of the Income Tax Act, 1961, are not applicable in computing book profit under Section 115JB of the act. In this case, the assessee company, Suzlon Energy Ltd., is engaged in the manufacturing of wind…

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