K. B. Mehta Construction (P.) Ltd. v. DCIT (2020) 185 ITD 81 (Ahd.)(Trib.)

S. 115JB : Book profit-Disallowances made under section 14A could not be applied while computing book profit. [S. 14A, R. 8D]

Tribunal held that since there is no mechanism provided under clause (f) to make disallowance independently, disallowance was to be limited to 1 per cent of exempted income on an adhoc basis subject to condition that disallowance should not exceed amount of disallowance as determined under section 14A. (AY. 2011-12)