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2019 (1) TMI 877 - AT - Income TaxDisallowance of interest paid to its partners - addition u/s 14A - Held that:- Following the decision of the Coordinate Bench in case of Quality Industries (2016 (10) TMI 56 - ITAT PUNE), payment of interest to the partners towards the use of the partner’s capital as per the provisions of the partnership deed is held not subject to disallowance under Section 14A read with Rule 8D(ii) of the Act. However, in respect of disallowance under Rule 8D(iii), no specific ground or plea has been taken by the ld AR on behalf of the assessee, hence the same is confirmed. Appeal filed by the assessee is partly allowed.
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