Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (7) TMI 718 - AT - Income TaxDisallowance us 14A r.w Rule 8D of the Act Indirect and administrative expenses Held that:- The AO has not considered the assessees case, recorded any dissatisfaction in terms of section 14A(2) the decision in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT [2010 (8) TMI 77 - BOMBAY HIGH COURT] - The initial onus in the matter though would only be on the assessee thus, the matter is to be remitted back to the file of the AO Decided in favour of Assessee. Partial disallowance of claim of expenses Insurance and depreciation on telephone and motor car towards personal use Held that:- The expenses obtained for that year brought to notice - to vary the percentage of the expenditure considered disallowable by the tribunal cannot be disregarded thus, it is restricted to 5%, as by the tribunal for the immediately preceding year Decided partly in favour of Assessee.
|