Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 1450 - BOMBAY HIGH COURTDisallowance u/s. 14A r/w.r. 8D - sufficiency of own funds - Tribunal held that when the net worth as on 31.03.2010 is in excess of the investment made yielding the exempt income, disallowance u/s. 14A r/w.r. 8D is not required to be made - HELD THAT:- Tribunal has affirmed the order of the FAA and in addition relied upon the aforesaid decision of the Court. The issue raised is squarely covered by the decision of this Court in the case of CIT v/s. Reliance Utilities & Power Ltd. [2009 (1) TMI 4 - BOMBAY HIGH COURT] After hearing learned counsel for the parties and on perusal of the order passed by the Tribunal, we do not find any error or infirmity in the view taken by it. Decided against revenue.
|