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2013 (12) TMI 525 - AT - Income TaxDisallowance u/s 14A – Held that:- Following Godrej Boyce Mfg Co [2010 (8) TMI 77 - BOMBAY HIGH COURT] - The provisions of Rule 8D are not applicable to facts of the present case - The Assessing Officer is duty bound to determine the expenditure which has been incurred in relation to income which does not form part of the total income under the Act. The Assessing Officer 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 – The issue was restored for fresh decision. Disallowance u/s 36(1)(va) - Employee’s contribution towards PF and ESI – Held that:- Following assessee’s own case for A.Y. 2005-06 - Payment held within grace period are allowable under section 43B – Decided in favour of assessee.
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