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2017 (3) TMI 1744 - AT - Income TaxDisallowance u/s 14A - suo moto disallowance - HELD THAT:- Assessee has reported tax free income by way of dividend to the extent of ₹ 10,188/- only. In view of the decision of Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy Pvt. Ltd. [2014 (3) TMI 856 - GUJARAT HIGH COURT] and Joint Investment Pvt. Ltd. vs. CIT [2015 (3) TMI 155 - DELHI HIGH COURT] the disallowance cannot exceed the exempt income. The assessee himself has computed expenditure attributable to exempt income more than the exempt income itself. Therefore, no further disallowance is called for. CIT(A), in our view, has rightly concluded the issue. We thus decline to interfere. - Decided against revenue
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