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2022 (8) TMI 18 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - assessee submits at the outset that his sole substantive argument is that both the lower authorities have wrongly computed the impugned disallowance thereby taking into consideration assessee’s entire investments than only those yielding exempt income(s) in the corresponding assessment year - HELD THAT:- We adopt judicial consistency to uphold the impugned disallowance in principle and direct the assessing authority to adjudicate the same as per law after considering only the dividend yielding investments in the relevant previous year(s). The assessee’s instant identical first substantive ground in all these cases is partly accepted in very terms. Disallowance of section 35(2AB) weighted deduction - HELD THAT:- We adopt judicial consistency [2020 (1) TMI 917 - ITAT PUNE] on the instant latter issue as well and accept the impugned section 32(2AB) weighted deduction claim. This latter substantive ground raised by the assessee succeeds.
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