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2018 (7) TMI 582 - AT - Income TaxAddition u/s 14A r.w. rule 8D(ii) - availability of own funds - Held that:- The facts available on records does not reflect the availability of own funds as at the beginning of the previous year as at 01-04-2010 as also at the end of the previous year as on 31-03-2011. The assessee has stressed on the availability of own funds being higher than the investments made in the year of making investments in securities capable of yielding exempt income but no reference or reliance is placed on the availability of own funds in the year under consideration. For limited verification by the AO as to the availability of own interest free funds during the year under consideration vis-a-vis investments made by the assessee in the securities capable of yielding exempt income in context with books of accounts and audited financial statements of the asssessee for the year under consideration, we are restoring the issue to file of the AO - Decided in favour of revenue for statistical purposes
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