Held that no addition can be made while computing book profit in respect of disallowance under S.14A. The Tribunal also held that Amendment disallowance of expenditure irrespective of receipt of exempt income is not retrospective. Order of CIT(A) is affirmed. (AY.2017-18)
Dy. CIT v. Welspun Steel Ltd. (2024)114 ITR 107 /229 TTJ 485(Mum)(Trib)
S.14A : Disallowance of expenditure-Exempt income-Book profit-No disallowance can be made-Amendment disallowance of expenditure irrespective of receipt of exempt income-Not Retrospective-Order of CIT(A) is affirmed. [S.115JB, R.8D]
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