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2016 (5) TMI 949 - DELHI HIGH COURT

2016 (5) TMI 949 - DELHI HIGH COURT - TMI - Disallowance u/s 14A - whether the observations in the decision of Maxopp Investment (2011 (11) TMI 267 - Delhi High Court ) to the effect that the AO has to record reasons as to why the claim of the Assessee in respect of the expenditure incurred for making the investment for the purposes of Section 14A should be discarded was only obiter dicta and therefore not a binding precedent as far as the ITAT was concerned? - ITAT deleted the disallowance - He .....

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in that regard has been raised in the memorandum of the present appeal, the Court finds that the AO applied Rule 8D of the Rules after being unable to determine what expenditure was incurred by the Assessee for the purposes of Section 14A. Therefore, remanding the issue to the AO would have served no useful purpose.No substantial question of law arises. - ITA 310/2016 - Dated:- 13-5-2016 - S. Muralidhar And Vibhu Bakhru, JJ. For the Appellant : Mr. Rahul Chaudhary, Senior Standing Counsel with .....

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p Investment Ltd. v. CIT (2012) 347 ITR 272 (Del) deleted the disallowance made by the Assessing Officer ( AO ) under Section 14A of the Income Tax Act, 1961 ( Act ) by applying Rule 8D of the Income Tax Rules, 1962 ( Rules ). 5. Two points were urged by learned counsel for the Revenue. The first was that the observations in the decision of Maxopp Investment (supra) to the effect that the AO has to record reasons as to why the claim of the Assessee in respect of the expenditure incurred for maki .....

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