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2014 (11) TMI 1068 - AT - Income TaxDisallowance u/s 14A - Held that:- After relying on the decision of the jurisdictional High Court in the case of Godrej and Boyce Mfg Co.Ltd (2010 (8) TMI 77 - BOMBAY HIGH COURT ), the ld. CIT(A) have given due justification and restricted the disallowance made u/s 14A with respect to administrative expenses. The ld. CIT(A) observed that the assessee company was to incur administrative expenses to ensure investment which is generating the exempt income, accordingly, he confirmed the disallowance of ₹ 4,25,000/- on account of administrative expenses under rule 8D(2)(iii) of the Rules. We do not find any infirmity in the order of ld. CIT(A) in confirming the disallowance of administrative expenses which was incurred and attributable to earning of exempt income. - Decided against assessee
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