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2018 (7) TMI 2130 - AT - Income TaxDisallowance u/s 14A read with Rule 8D - inclusion of investments to be considered for computing average value of investment which yielded exempt income during the year - HELD THAT:- This Tribunal is of the considered opinion that only those investments which yielded exempted income alone has to be considered for the purpose of disallowance under Rule 8D(2)(iii). Therefore, we are unable to uphold the orders of the authorities below. Accordingly, the orders of both the authorities below are set aside and the issue is remitted back to the file of the Assessing Officer. The Assessing Officer shall re-examine the matter and restrict the disallowance in respect of such investments which yielded the exempted income, and which does not form of total income alone has to be considered for disallowance. Appeal of the assessee is allowed for statistical purposes.
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