Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 944 - AT - Income TaxDisallowance u/s. 14A r/w Rule 8D - Held that:- As decided in assessee's own case Rule BD has to be applied in the case of the appellant and the proportionate expenditure in relation to exempt income determined. The AO has followed a method which is not fully consonant with the method provided in rule 8D. The AO is directed to determine amount of expenditure incurred in relation to exempt income by applying the method prescribed in Rule BD. The disallowance of proportionate expenditure determined in each year according to the above rule would be the amount of disallowance that is confirmed. Any amount of disallowance which is higher than the amount computed as per rule 8D should be treated as deleted - Decided against revenue
|