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2019 (9) TMI 402 - AT - Income TaxDisallowance of expenditure u/s 14A - no dividend income earned - HELD THAT:- Since, the assessee has not earned any dividend income in the assessment years under consideration, we are of the considered opinion that the ld. CIT(A) has rightly followed the decision of the Hon’ble Jurisdictional High Court in the case of Redington (India) Ltd. v. Addl. CIT [2017 (1) TMI 318 - MADRAS HIGH COURT] and directed the Assessing Officer to delete the addition. DR could not controvert the above judgement. MAT - disallowance under section 14A for book profit calculation under section 115JB - HELD THAT:- In the case of ACIT v. Vireet Investment (P) Ltd. [2017 (6) TMI 1124 - ITAT DELHI] the Delhi Special Bench of the Tribunal has given a categorical findings that the computation under clause (f) of Explanation 1 to section 115JB(2) of the Act is to be made without resorting to computation as contemplated under section 14A read with rule 8D. By following the above decisions, the ld. CIT(A) directed the Assessing Officer to exclude the disallowance under section 14A r.w. rule 8D while computing MAT under section 115JB of the Act. The ld. DR could not controvert the above decisions of the Tribunal. Revenue appeal dismissed.
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