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2012 (2) TMI 87 - ITAT MUMBAIExpenses in relation to income not forming part of total income – section 14A – dis-allowance - dividend income earned during the year – assessee submitted that no expenses were incurred to earn the dividend income – A.Y. 06-07 - Held that:- A.O. is duty bound to determine the expenditure which has been incurred in relation to exempt income on reasonable basis. See Godrej & Boyce Mfg. Co. Ltd vs DCIT (2010 (8) TMI 77 - BOMBAY HIGH COURT). Therefore, matter is send back to the file of the A.O. to decide the same afresh - Decided partly in favor of assessee for statistical purposes.
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