Dismissing the appeal of the Revenue the Court held where disallowance under substantive provision i.e. section 14A had been deleted, question of consequential adjustments in book profit under section 115JB did not arise. (AY. 2011-12)
PCIT, Central v. Shapoorji Pallonji and Co. Ltd. (2024) 164 taxman.com 707 (Bom)(HC) Editorial : SLP of Revenue is dismissed, PCIT, Central v. Shapoorji Pallonji and Co. Ltd. (2024) 300 Taxman 182 (SC)
S. 115JB : Book profit-Disallowance under substantive provision i.e. section 14A had been deleted-No adjustment can be made to book profit.[S. 14A, 260A, R.8D]
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