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2017 (12) TMI 1691 - AT - Income TaxAddition u/s 14A read with rule 8D - HELD THAT:- As in assessee’s case for the assessment year 2008-09 where in an identical issue on identical facts has been decided as observed that the disallowance should be worked out on proportionate method under rule 8D(2)(iii) and determined disallowance at ₹ 35,120/- applying the proportionate method on the total income and dividend income earned and total expenses in the current year. The only difference in the facts are with regard to the quantum of amount of dividend income earned and the quantum of expenses. Considering the decision of the Co-ordinate Bench of the Tribunal and the overall expenses as well as the income and total income of the assessee, we are of the view that it would be fair and reasonable if a sum of ₹ 10 lakhs is disallowed under rule 8D(2)(iii). Accordingly, we direct the AO to disallow a sum of ₹ 10 lakhs under rule 8D(2)(iii). Resultantly, the appeal of the assessee is partly allowed.
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