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2018 (4) TMI 12 - AT - Income TaxDisallowance u/s 14A - Held that:- There are funds available both interest-free and over draft and/or loans taken, then a presumption would arise that investments would be out of the interest-free fund generated or available with the company, if the interest-free funds were sufficient to meet the investments. In this case this presumption is established. - Decided in favour of assessee. Nature of expenditure - website creation expenditure is a revenue expenditure and not a capital expenditure. See CIT vs. Mahindra Realty & Inf. Developers Ltd. [2013 (9) TMI 113 - ITAT MUMBAI ]
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