AdvertisementPCIT Vs Jindal Saw Ltd. (Delhi High Court) HC Rejects Revenue Challenge to Section 14A Disallowance Without Exempt Income; HC Upholds ITAT Order on Section 115JB Book Profit Adjustment Under Section 14A; HC Holds Section 40(a)(ia) Disallowance Unsustainable After Tribunal Sets Aside Default Order The Delhi High Court considered the Revenue’s appeal raising questions regarding the deletion of disallowances under Sections 14A and 40(a)(ia) of the Income-tax Act, 1961, and the computation of book profit under Section 115JB. On the issue of disallowance under Section 14A, the assessee subm...