Court has admitted the following question of law “ whether on the facts and in the circumstances of the case and in law , the Honourable Tribunal was right in holding that disallowance under S.14A cannot be imported in to provisions of S.115JB in view of cl.(f) to Explanation (1) to the Section ?”. ( AY. 2003 -04 to 2006 -07)
CIT v. Reliance Industries Ltd ( 2018) 161 DTR 420// ( 2019) 410 ITR 468 ( Bom) (HC)
S. 115JB : Book profits – Exempt income – Disallowance under section 14A can be invoked while computing book profit is a question of law [ S.14A, 260A ]