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2019 (3) TMI 691 - ITAT MUMBAIDisallowance of exemption income u/s 14A read with Rule 8D(2)(iii) - suo moto disallowance by the assessee - HELD THAT:- We find that none of the expenses above stated have nexus that the exempt income rather all these are related to business income. The assessee suo moto has disallowed a sum of ₹ 33,815/- relatable to the exempt income which according to us is quite reasonable. Even otherwise, the issue is covered by the Tribunal’s decision as assessee’s own case for AY 2011-12, respectfully following the same and in given facts and circumstances, we delete the disallowance. Hence, we allow the appeal of the assessee.
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