{"id":34320,"date":"2023-04-22T23:19:21","date_gmt":"2023-04-22T17:49:21","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dcit-osd-v-vishal-export-overseas-ltd-2022-197-itd-459-ahd-trib-2\/"},"modified":"2023-04-22T23:19:21","modified_gmt":"2023-04-22T17:49:21","slug":"dcit-osd-v-vishal-export-overseas-ltd-2022-197-itd-459-ahd-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-osd-v-vishal-export-overseas-ltd-2022-197-itd-459-ahd-trib-2\/","title":{"rendered":"DCIT (OSD) v. Vishal Export Overseas Ltd. (2022) 197 ITD 459 (Ahd.)(Trib.)"},"content":{"rendered":"<p>Held that disallowance made under section 14A read with rule 8D cannot be made while determining expenses as mentioned under clause (f) to Explanation 1 to section 115JB. However, since there is no mechanism given under clause (f) to Explanation 1 of section 115JB to workout expenses with respect to exempted income, disallowance was to be limited on an ad hoc basis at rate of 1 per cent of exempted income. (AY. 2006-07)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115JB :  Book profit-Disallowances made under section 14A read with rule 8D could not be applied to provision of section 115JB-Exempted income-Disallowance is restricted on an ad-hoc basis at rate of 1 percent of exempt income. [S. 14A, R.8D]   <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34320","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Vy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34320"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34320\/revisions"}],"predecessor-version":[{"id":34321,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34320\/revisions\/34321"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}