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2018 (10) TMI 1911 - AT - Income TaxDisallowance u/s.14A read with Rule 8D - AO worked out the disallowance being 0.5% of average value of investment under Rule 8D(2)(iii) - HELD THAT:- There is need for scrutinizing the facts of the present case qua the binding of the judgment in the case of Reliance Capital Asset Management Ltd. [2017 (10) TMI 177 - BOMBAY HIGH COURT] for the purpose of exclusion of the present case from the applicability of the formula laid down in Rule 8D(2)(iii) of the I.T. Rules, 1962. Therefore, agreeing with the Ld. DR, the issue stands remanded to the file of AO for fresh adjudication and for want of a speaking order. Accordingly, grounds raised by the assessee are allowed for statistical purposes.
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