Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (7) TMI 741 - DELHI HIGH COURT

2015 (7) TMI 741 - DELHI HIGH COURT - TMI - Disallowance u/s 14A r.w.r. 8D - Held that:- Relying on the decisions in Maxopp Investments Limited v. Commissioner of Income Tax [2011 (11) TMI 267 - Delhi High Court] and Auchtel Products Limited v. ACIT (2012 (5) TMI 108 - ITAT, MUMBAI) the ITAT came to the conclusion that it was incumbent on the AO to have recorded that he is not satisfied with the correctness of the claim of the Assessee in respect of such expenditure which did not part of the inc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t is not material that the Assessee should have earned such exempted income during the financial year under consideration. She candidly admitted that the said circular was not placed before the ITAT in the appeal filed by the Revenue. The Court is not prepared to permit the Appellant to urge a ground that was not raised before the ITAT. - Decided in favour of assessee. - ITA No. 368/2015 - Dated:- 3-7-2015 - S. Muralidhar And I. S. Mehta,JJ. For the Appellant : Ms Suruchi Aggarwal, Sr Standing C .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the Assessing Officer ('AO') under Section 14A of the Income Tax 1961 ('Act') read with Rule 8 (D) (ii) of the Income Tax Rules. In an appeal filed before the Commissioner of Income Tax (Appeals) ['CIT (A)'] the above addition made by the AO was deleted. It was held that no disallowance could be made if the investment is made out of interest free fund. However, the CIT (A) confirmed the action of the AO in disallowing a sum of ₹ 13,53,411 under Section 14A of the A .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version