Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (3) TMI 1351 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - dividend income - allocation of expenditure to be attributed to the income - HELD THAT:- As decided in assessee's own case [2014 (1) TMI 1183 - ITAT MUMBAI] a reasonable allocation of expenditure has to be made which can be attributed to the income which is chargeable to tax particularly bank interest income as against dividend income. Thus expenditure as worked out by assessee is reasonable to make disallowance u/s 14A read with Rule 8D. Thus remand the matter to the file of AO and direct the AO to apply the said ratio to the facts of the present case and other decisions, if any, in force and decided the issue in accordance with law. - Decided in favour of assessee for statistical purposes.
|