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| The Tax Publishers2020 TaxPub(DT) 4188 (Mum-Trib) INCOME TAX ACT, 1961
Section 115JB
The direction of CIT(A) to adopt the disallowance made under section 14A for the purpose of computing book profit under section 115JB was liable to be set aside in view of decision held in case of Asstt. CIT v. Vireet Investment (P) Ltd. (2017) 165 ITD 27 (Del-Trib) : 2017 TaxPub(DT) 1760 (Del-Trib).
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MAT - Book profit under section 115JB - Treatment of disallowance under section 14A -
Assessee filed appeal against the order of CIT(A) directing AO to adopt the disallowance computed under section 14A for the purpose of computing book profit under section 115JB. Held: In view of decision held in case of Asstt. CIT v. Vireet Investment (P) Ltd. (2017) 165 ITD 27 (Del-Trib) : 2017 TaxPub(DT) 1760 (Del-Trib) the direction of CIT(A) to adopt the disallowance made under section 14A for the purpose of computing book profit under section 115JB was liable to be set aside.
Followed:Asstt. CIT v. Vireet Investment (P) Ltd. (2017) 165 ITD 27 (Del-Trib) : 2017 TaxPub(DT) 1760 (Del-Trib).
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2013-14 & 2014-15
IN THE ITAT, MUMBAI BENCH
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