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2018 (10) TMI 1843 - AT - Income TaxAddition u/s 14A - Disallowance of interest expenditure - HELD THAT:- The facts of the present case are similar to the facts of the case of Sudhir MehtaI [2017 (12) TMI 1668 - ITAT MUMBAI] wherein as set aside the order of the CIT(A) and direct the AO to allow deduction in respect of said interest accrued and calculated at 12% per annum after disallowing proportionate interest in respect of the investment in shares amounting after verifying the calculation of the interest quantification. Levy of interest u/s. 234A, 234B and 234C - HELD THAT:- As relying on case of Sudhir MehtaI [2017 (12) TMI 1668 - ITAT MUMBAI] we direct the AO to recompute the interest liability after reducing the amount of tax deductible at source on the income earned. Appeal of assessee is allowed for statistical purpose.
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