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2017 (3) TMI 131 - AT - Income TaxAddition u/s 14A - non-recording of satisfaction by the AO - Held that:- We order deletion of the additions made by the AO as confirmed by the learned CIT(A) on the same grounds for the assessment year 2009-10 that no satisfaction was recorded by the AO u/s 14A(2) of the Act as to the incorrectness of the claim/explanation of the assessee as to the disallowance made by the assessee of expenditure of ₹ 2,50,000/- having incurred in relation to the earning of the exempt income, before invoking Section14A of the Act r.w.r. 8D of Income-tax Rules, 1962 , excluding the suo motu disallowance of ₹ 2,50,000/- as voluntarily offered by the assessee u/s 14A of the Act which disallowance u/s 14A of the Act to the tune of ₹ 2,50,000/- stood confirmed/sustained. We order accordingly.
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