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2017 (4) TMI 915 - AT - Income TaxDisallowance u/s 14A - Held that:- We remit back the matter to the file of the Ld. AO to consider the issue afresh in the light of the above order of the Tribunal in the case of Lakshmi Electrical Drives Ltd [2017 (4) TMI 238 - ITAT CHENNAI] and pass appropriate order in accordance with merits and law. We also make it clear that for the investments made in mutual funds, provisions of Section 14A read with Rule 8D will be applicable since the assessee would incur some expenditure at least for the decision making process as to in which mutual fund the investment has to be made and at what point of time exit from such funds. It is ordered accordingly.
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