Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (6) TMI 1097 - AT - Income TaxComputation of disallowance u/s.14A r.w.r.8D. - exclusion of investment made in the group concerns seeked - Held that:- As per the audited balance-sheet, the assessee has made substantial investment in group concern as a strategic investment. As per the decision of coordinate bench in M/s Smart Chip Ltd. [2014 (11) TMI 1068 - ITAT MUMBAI ] , strategic investment are required to be excluded from total investment while working out disallowance under Rule 8D. Thus ground taken by the assessee in all the years for computing disallowance under rule 8D is restored back to the file of AO with a direction to recompute the same by excluding strategic investment made in the group concerns which is ₹ 11.30 crores in the A.Y.2009-10, ₹ 26.44 crores for A.Y.2008-09 and ₹ 11.30 crores in A.Y.2010-11, respectively. We direct accordingly.
|