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2016 (3) TMI 1387 - ITAT MUMBAIDisallowance u/s 14A read with Rule 8D - assessee submitted that the disallowance made by the AO has far exceeded the total claim of expenditure in the P & L Account - HELD THAT:- As decided in assessee's own case for the AY 2008-2009 [2014 (1) TMI 1183 - ITAT MUMBAI] a reasonable allocation of expenditure has to be made which can be attributed to the income which is chargeable to tax particularly bank interest income as against dividend income. We agree with the Ld Counsel’s argument and remand the matter to the file of the AO. We direct the AO to apply the said ratio to the facts of the present case and other decisions, if any, in force and decided the issue in accordance with law. - Decided in favour of assessee for statistical purposes.
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