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2017 (2) TMI 1219 - HC - Income TaxDisallowance u/s 14A r.w.r. 8D on the basis of the netting of interest - Held that:- Oone has to proceed on the basis that the decision of the Mumbai Bench of the Tribunal in Paresh K. Shah (supra) has been accepted by the Revenue. In any case, no distinguishing features in facts or law has been pointed to us from those in the case of Paresh K. Shah (2013 (6) TMI 755 - ITAT MUMBAI) which would justify the disallowance on the gross interest paid and not on net interest. Interest free deposit received by the assessee - determine the ALV of the rented property - Tribunal upholding the order of CIT(A) directing AO to delete the 12% interest charged - Held that:- This issue stands concluded against the Revenue and in favour of the respondent-assessee by the decision of this Court in CIT v/s. Tiptop Typography [2014 (8) TMI 356 - BOMBAY HIGH COURT].
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