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2015 (6) TMI 140 - BOMBAY HIGH COURT

2015 (6) TMI 140 - BOMBAY HIGH COURT - [2016] 380 ITR 471 - Applicability of Rule 8D(ii) - Held that:- The figures under the head "Investment" could be taken and some charges apportioned for the purpose of computing the expenses. The Commissioner found from such figures, that only 10% of the income earned could be apportioned towards expenses for earning the dividend income. CIT(A) therefore, made a revised disallowance been accepted by Tribunal. No substantial question of law - See Godrej & Boy .....

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Rule 8D(ii) of the Income Tax Rules, 1962 was correctly applied or not? 2. Despite granting an adjournment of nearly four weeks, Mr. Suresh Kumar is not able to obtain instructions. He states that there is a restructuring of the Department and that is why he is unable to obtain any instruction. 3. We do not wish to grant any further time to Mr. Suresh Kumar to verify a factual issue. The Revenue submits that the two questions at page 3 of the paper-book are substantial questions of law, as they .....

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