Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 796 - AT - Income TaxDisallowance made u/s. 14A read with Rule 8D - Held that:- No infirmity in the proposition that when no exempt income is earned, no disallowance u/s. 14A should be made. However, this aspect as to whether the assessee has earned exempt income or not, remains to be examined at the level of the Assessing Officer. Hence, we remit the issue to the file of the Assessing Officer to examine as to whether the assessee has earned exempt income or not. If the assessee has not earned any exempt income, then as per the ratio emanating from the above, the Hon'ble jurisdictional High Court decisions, no disallowance u/s. 14A is required. Needless to add, the assessee should be granted adequate opportunity of being heard Addition of bogus accommodation entry - Held that:- We find that this Tribunal in the case of M/s. JSW Steel (Salav) Limited vs. DCIT [2017 (2) TMI 444 - ITAT MUMBAI] for the same assessment year has decided the identical issue against the assessee
|