Relief to Oriental Insurance: ITAT Upholds Deletion of Rs. 21.36 Crore Disallowance u/s 14A [Read Order]
It was submitted by the assessee’s counsel that provisions of computing sub-sections (2) and (3) of Section 14A cannot be imported into clause (f) of the explanation to Section 115JA while calculating adjusted book profit
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion of Rs. 21.36 crore disallowance under Section 14A of the Income Tax Act, 1961. In this case, the revenue has appealed against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for the Assessment Year (AY) 2018-19. The assessee had…
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