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2012 (3) TMI 585 - AT - Income TaxProvision made for leave encashment in the current assessment year on the basis of actuarial valuation - Held that:- Restore the matter back to the file of Assessing Officer for adjudication as per the decision of Hon’ble Apex Court in the case of M/s. Exide Industries Ltd. (2009 (5) TMI 894 - SUPREME COURT). This ground of appeal of assessee is allowed for statistical purposes. Disallowance u/s. 14A - Held that:- We restrict the disallowance u/s. 14A of the Act to 1% of total exempt income and direct the Assessing Officer to work out the quantum of disallowance accordingly. This ground of appeal of assessee is allowed.
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