When the primary disallowances u//s 14A being deleted, the High Court affirmed that the consequential adjustment to book profit under section 115JB did not arise. (AY. 2011-12)
PCIT v. Shapoorji Pallonji and Co Ltd [2024] 164 taxmann.com 707 (Bom.)(HC) Editorial : SLP of revenue rejected, PCIT v. Shapoorji Pallonji and Co Ltd (2024) 300 Taxman 182(SC)
S. 115JB : Book profit-Consequential adjustment-Where the primary disallowance under section 14A is deleted, the consequential adjustment to book profit does not arise.[S. 14A]
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