PCIT v. Moon Star Securities Trading & Finance Co. (P.) Ltd. (2024) 299 Taxman 53 (Delhi)(HC)

S. 115JB : Book profit-Disallowance made under section 14A could not be considered for computing MAT.[S. 14A, R.8D]

Held that scheme of section 115JB, particularly in relation to clause (f) of explanation 1 therein, does not envisage any addition of disallowance computed under section 14A to calculate MAT as per section 115JB, therefore disallowance made under section 14A could not be considered for computing MAT.  (AY. 2011-12)