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2017 (11) TMI 1683 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - receipt of dividend income which is exempt u/s 10(34) - investments from own source of funds - Held that:- The assessee has undertaken activity/transactions of sale of mutual funds during the previous year relevant to the impugned assessment year which led to decline in investment as at year and necessarily expenses must have been incurred towards undertaking these transaction / activity of sale of mutual fund. Under these circumstances and keeping in view tribunal decisions in the preceding years in assessee’s own case , thus , in order to maintain consistency and judicial discipline , end of justice will be met in the instant case if further disallowance of expenditure u/s 14A is kept at an additional amount of ₹ 1,00,000/- towards administrative/misc. expenses to be added to the income of the assessee - Decided partly in favor of assessee.
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