Allowing the appeal of the assessee the Court held that the disallowance under section 14A of the Act is a notional disallowance and therefore, by recourse to section 14A of the Act, the amount cannot be added back to the book profits under clause (f) of Explanation 1 to section 115JB. (AY.2008-09)
Sobha Developers Ltd. v. Dy.CIT(LTU) (2021) 434 ITR 266 / 278 Taxman 338 (Karn.)(HC)
S. 115JB : Book profit-Amount disallowed u/s. 14A cannot be included. [S. 14A]