Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (8) TMI 581 - AT - Income TaxDisallowance of dividend income u/s 14A r.w.r. 8D - CIT(A) curtailed the disallowance - Held that:- As decided in GODREJ AND BOYCE MFG. CO. LTD. Versus DCIT AND ANOTHER [2010 (8) TMI 77 - BOMBAY HIGH COURT] the provisions of rule 8D would apply with effect from assessment year 2008-09 and prior to assessment year 2008-09, when rule 8D was not applicable AO must adopt a reasonable basis or method consistent with all the relevant facts and circumstances after furnishing a reasonable opportunity to the assessee to place all germane material on the record - thus the matter is remitted back to the file of the AO with a direction decide the issue afresh in the light of the said judgment after providing reasonable opportunity of being heard to the assessee - in favour of assessee.
|