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2018 (6) TMI 283 - AT - Income TaxAddition u/s 14A r.w.r 8D - Held that:- As decided in CHUDGAR RANCHODLAL JETHALAL TRADE PVT. LTD. VERSUS THE DCIT [2015 (4) TMI 437 - ITAT AHMEDABAD] the provisions of Rule 8D are applicable for the year under consideration and in the light of the decision of Joint Investments Pvt Ltd Versus CIT [2015 (3) TMI 155 - DELHI HIGH COURT] and in view of the fact that the disallowance worked out by A.O u/s. 14A is more than the exempt income and disallowance u/s 14A r.w.r. 8D cannot be made in excess of exempt income - the disallowance is restricted to the dividend income earned by the appellant - Decided in favour of assessee
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