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2018 (7) TMI 2141 - AT - Income TaxDisallowance u/s 14A read with Rule 8D - adjustment of suo-moto disallowance - HELD THAT:- The fact that the assessee claimed net expenditure of ₹ 12.16 Lacs during impugned AY remain undisputed. Against the same, the disallowance worked out by Ld. AO was ₹ 374.14 Lacs which was not, at all, justified. CIT(A) has restricted the same to ₹ 12.16 Lacs, which is fair & logical. Upon perusal of Tribunal’s order for AY 2008-09, we find that the suo-moto disallowance as made by the assessee has been accepted by the Tribunal. Following the same, the matter for AYs 2009-10 & 2011-12 has been remitted back to the file of Ld. AO for re-adjudication in terms of ratio of Tribunal’s decision for AY 2008-09. Upon due consideration of factual matrix, we see no reasons to interfere with the order of Ld. first appellate authority. - Decided against revenue.
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