Section 14A disallowance not considerable in Section 115JB book profit computation

Sundaram Finance Holdings Limited Vs ACIT (ITAT Chennai)

Scheme of Income Tax Act is that the computation is first made under the normal provisions of the Act and, thereafter, under an alternate scheme provided u/s 115JB for computing total income as per the prescribed method. If the tax liability on the basis of total income as per MAT provisions is more than the tax computed under the normal provisions of the Act then the former becomes the final tax liability of the assessee. The mode of computation of book profit has bee

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