Following the Special Bench in ACIT v. Vireet Investment (P.) Ltd. (2017) 58 ITR 313 /82 Taxmann.com 415 (SB) (Delhi)(Trib). The Tribunal held that No disallowance to be made under S. 14A while computing book profit. (AY. 2005 -06 to 2007 -08)
L&T Finance Ltd. (2018) 62 ITR 298 /192 TTJ 9 (UO) (Mum.)(Trib.)
S. 115JB : Book Profit – Exempt income -No disallowance to be made under S. 14A while computing book profit. [S. 14A]