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2018 (10) TMI 848 - AT - Income TaxDisallowance U/s.14A - exclude the investments made from own interest free funds and the investment which did not earn dividend income while computing disallowance - Held that:- We find that with respect to disallowance U/s.14A of the Act, we held that application of Rule 8D is not automatic. If the assessee computes to the satisfaction of the Ld.Revenue Authorities the expenses incurred by it with respect to investments earning exempt dividend then the same should be disallowed. Only when such computation is not possible Rule 8D should be applied for computing the disallowance U/s.14A of the Act.
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