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2021 (5) TMI 241 - AT - Income TaxDisallowance u/s 14A r.w. Rule 8D - HELD THAT:- Investment which did not yield exempt income is liable to be excluded while assessing the expenditure to earn the exempt income u/s 14A r.w. Rule 8D(2). Accordingly, we set aside the finding of the CIT(A) in question and direct the AO to assess the expenditure to earn the exempt income while implementing the decision titled as ACIT Vs. Vireet Investment P. Ltd.[2017 (6) TMI 1124 - ITAT DELHI]. Accordingly, these issues are decided in favour of the assessee against the revenue. Disallowance of Education Cess while assessing the income tax paid during the year - HELD THAT:- In view of the decision of the Hon’ble Bombay High Court in the case of Sesa Goa [2020 (3 ) TMI 347 - BOMBAY HIGH COURT]we are of the view that the deduction in respect of education cess on the income tax paid during the year is liable to be granted in accordance with law. Accordingly, this issue is decided in favour of the assessee
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