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2023 (2) TMI 686 - ITAT PUNEDisallowance u/s 14A r.w. Rule 8D(2)(iii) - CIT- A restricting disallowance only to the extent of investments yielding actual exempt income - HELD THAT:- As it has come on record that the CIT(A)'s has already taken note of the settled legal proposition on the instant issue. We thus find no merit in the assessee’s instant sole substantive grievance. It’s instant former substantive ground stands rejected therefore. Sales promotion expenses - dinner for guests at JW Marriot Hotel, Pune - HELD THAT:- We note with the able assistance coming from the Revenue side that the assessee has not been able to prove the impugned dinner expenses to have been incurred wholly and exclusively for the purpose of business by way of filing cogent supportive evidence. We thus affirm the instant latter disallowance of sales promotion expenses as well. - Decided against assessee.
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