Shriram City Union Finance Ltd. vs DCIT

Whether transfer to reserve fund under section 45IC of RBI Act is deductible while computing business income and book profit u/s 115JB of Income Tax Act, 1961? --- Held No. Whether disallowance u/s 14A can be made when no exempt income is earned? --- Held No. Whether royalty payment for using logo is capital or revenue expenditure? --- Held Revenue expenditure. Whether commission payment is disallowable u/s 40(a)(ia) for non-deduction of TDS u/s 194H? --- Partly allowed, disallowance sustained for payments exceeding Rs. 5000 per recipient. Whether disallowance u/s 14A r.w.r. 8D can be added back to book profit u/s 115JB? --- Held No.