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Expenditure incurred to earn exempt Income computed u/s 14A can’t be added while computing Book Profit: ITAT
Case Law Details
- Case Name
- A.C.I.T. Vs M/s. Ridhi Portfolion (p) Ltd (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-2011
- Courts
- All ITAT, ITAT Kolkata
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ACIT Vs M/s. Ridhi Portfolion (P) Ltd (ITAT Kolkata)
A similar issue relating to addition on account of expenditure disallowed under section 14A while computing book profit under section 115JB of the Act has been decided by the Special Bench of this Tribunal at Delhi in the case of ACIT vs Vireet Investment Pvt. Ltd. (ITA No. 502/Del/2012 dated 16.06.2017) wherein it was held that the expenditure incurred to earn exempt income computed under section 14A of the Act could not be added while computing book profit under section 115JB of the Act. In the case of CIT vs Jayshree Tea Industries Ltd....
